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Egypt's economy struggles as inflation peaks at 38.2% in July
Posted on August 14, 2023 |
Egypt records all-time high annual inflation in July amidst persistent price hikes
Consumer prices in Egypt skyrocketed to 38.2% year over year, setting new records
Soaring food and beverage expenses drive inflation, surging by 68.2% in 12 months
The fallout from the Russia-Ukraine grain deal amplifies the food price surge in Egypt
Egyptian pound depreciation drove inflation, leading to over 50% currency devaluation