Arab Finance: Egypt's annual headline inflation recorded 16.5% in May, versus 13.5% in April, as reported by the Central Agency for Public Mobilization and Statistics (CAPMAS) on June 4th.

The inflation rate was driven by a 11.2% year-on-year (YoY) jump in food and beverage prices, due to a 16% increase in grains and bread prices and a 10.3% increase in fish and seafood prices.

Prices falling under the alcoholic beverage and tobacco segment surged by 15.6% compared to May 2024.

Meanwhile, the housing, water, electricity, natural gas, and fuel sector recorded a 19.3% YoY increase in prices.

As for the monthly inflation rate, it rose to 1.8% in May, with the consumer price index (CPI) reaching 258.4 points.

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