Egypt’s yearly inflation rate has hit a brand-new record high in August, as the cash-strapped nation continues to fight cost walkings and a diminishing currency
ByThe Associated Press
September 10, 2023, 3: 42 AM
CAIRO — Egypt’s yearly inflation rate hit a brand-new record high in August, as the cash-strapped nation continues to fight cost walkings and a diminishing currency, the Egyptian data bureau stated Sunday.
The yearly inflation rate reached 39.7% last month, up from 38.2% taped in July, according to information launched by the state-run Central Agency for Mobilization and Statistics. On a regularmonthly basis, costs grew 1.6% last month, down from a prior 1.9% increase in July.
Prices in Egypt increased throughout numerous sectors, from food products and medical services to realestate and furnishings following the Russia-Ukraine war, which released a wave of infla