Egypt’s urban inflation eased slightly in November 2025, dipping to 12.3% from 12.5% in October, according to data released on Wednesday by the Central Agency for Public Mobilisation and Statistics (CAPMAS). Monthly inflation slowed markedly to 0.3%, compared with 1.8% in the previous month.
CAPMAS reported that the nationwide consumer price index reached 263.8 points in November, edging down by 0.2% from October.
The Agency attributed the decline chiefly to a 15.8% fall in vegetable prices, alongside a 0.2% drop in cereals and bread, a 1.5% decrease in meat and poultry, a 0.8% decline in fish and seafood, a 1.2% reduction in dairy products, cheese and eggs, and a 0.4% fall in personal belongings.
However, several categories saw price increases. Oils and fats rose by 0.3%, as did coffee, tea and cocoa. Mineral water, soft drinks and natural juices increased by 0.4%, tobacco by 0.3%, fabrics by 0.6%, ready-made clothing by 1.2% and clothing cleaning, repair and rental services by 1.4%.
Housing-related costs also climbed, including actual rent (up 2.1%), imputed rent (2.0%), maintenance and repair (0.9%), water and housing services (0.6%), and electricity, gas and other fuels (3.9%). Furniture, furnishings, carpets and floor coverings rose by 0.6%, household textiles by 1.3%, and glassware, tableware and household utensils by 0.9%.
Additional increases were recorded in home maintenance goods and services (1.4%), outpatient services (1.1%), hospital services (2%), vehicle purchases (2.1%), private transport expenditure (6.4%), transport services (8.3%), ready-made meals (1.3%), hotel services (1.6%) and personal care (1.4%).
Monthly core CPI inflation, computed by the Central Bank of Egypt, recorded 0.8% in November 2025, compared with 0.4% in November 2024 and 2.0% in October 2025. On an annual basis, core CPI inflation rose to 12.5% in November, up from 12.1% in October.
CAPMAS noted that the annual nationwide inflation rate stood at 10% in November, fractionally lower than 10.1% in October.
On 20 November, the Central Bank of Egypt’s Monetary Policy Committee (MPC) opted to keep key interest rates unchanged at 21% for deposits, 22% for lending and 21.5% for the credit and discount rate and the main operation rate, a decision widely anticipated by analysts and investment banks.
In its accompanying statement, the MPC said the decision reflected its assessment of recent inflation developments and the outlook since its previous meeting. It noted that further declines in monthly inflation were necessary to steer headline inflation towards the Bank’s target. It also reiterated expectations that annual headline inflation would rise towards the end of the fourth quarter due to higher energy prices before easing again in the second half of 2026, moving closer to target.
The Committee cautioned that inflation expectations remained exposed to upside risks both globally and domestically, including potential geopolitical escalations, persistently elevated service-price inflation and fiscal consolidation measures exceeding expectations.
It stressed that these risks required close monitoring and a cautious approach to the monetary easing cycle. Maintaining policy rates, it noted, supported efforts to contain inflationary pressures, anchor expectations and restore the downward inflation path.
The MPC confirmed that its decisions would continue to be made on a meeting-by-meeting basis and remain guided by the outlook, associated risks and incoming data. It added that it would not hesitate to use all available tools to achieve price stability and guide inflation towards its target of 7% (± 2%) on average in the fourth quarter of 2026.
