Arab Finance: Egypt's annual headline inflation narrowed to 33.1% in March, compared to 36% in February, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced on April 8th.

The inflation rate was driven by the 42% year-on-year (YoY) increase in the prices of food and beverages last March, resulting from the 48.3% hike in prices of sugar and the 45.4% increase in eggs and dairy prices.

Additionally, the prices of the alcoholic beverage and tobacco segment were 87.6% higher than in March 2023, while the furniture and home appliances segment registered a 35.4% YoY hike in prices.

However, the monthly inflation rate dropped to 1% in March from 11% in February, with the consumer price index (CPI) recording 221.6 points.

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