Arab Finance: Egypt's annual headline inflation dropped to 36.4% in November, compared to 38.5% in October, the Central Agency for Public Mobilization and Statistics (CAPMAS) revealed in a press release on December 10^th.

Persisting inflation was driven by the 63.9% year-on-year (YoY) increase in the food and beverage segment last November, resulting from the 81.6% hike in prices of meat and poultry and the 78.2% increase in vegetable prices.

Additionally, the prices of the alcoholic beverage and tobacco segment were 72.1% higher than in November 2022, and the restaurants and hotels segment recorded an increase of 42.9% YoY.

The furniture and home appliances segment registered a 39.1% YoY increase in prices, while the goods and service sector saw a 27.8% YoY surge in prices.

However, the monthly inflation rate fell to 0.9% in November from 1.2% in October, with the consumer price index (CPI) recording 191.8 points.

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