Annual urban headline inflation in Egypt eased slightly to 12.3% in November 2025, down from 12.5% in October, according to the Central Bank of Egypt (CBE). The moderation was mainly driven by a slowdown in food price inflation, which declined to 0.7% in November from 1.5% a month earlier. Non-food inflation also edged down marginally, registering 20.2% in November compared with 20.4% in October.
Annual core inflation, however, increased to 12.5% in November from 12.1% in October. On a monthly basis, core inflation decelerated sharply to 0.8% from 2.0% in October, although it remained higher than the 0.4% recorded in November 2024. This slowdown was largely attributed to a decline in core food prices, which fell by 0.8% during the month.
Monthly urban headline inflation dropped significantly to 0.3% in November, compared with 1.8% in October and 0.5% in November 2024. The monthly decline reflected broad-based decreases in both volatile and core food prices, which more than offset increases in service, retail, and regulated item prices.
At the national level, annual rural headline inflation remained broadly stable at 7.9% in November, up slightly from 7.8% in October, while nationwide headline inflation held steady at 10.0%, easing marginally from 10.1% in the previous month.
Food prices were the main driver of the monthly decline in inflation. Monthly food inflation contracted by 2.6% in November, contributing negative 1.0 percentage point to headline inflation. This was largely due to a sharp drop in volatile food prices, which declined by 11.7%, driven by a 1.8% decrease in fresh fruit prices and a pronounced 17.8% fall in vegetable prices. These declines were broadly in line with seasonal patterns, though more pronounced than usual. Poultry prices fell by 3.2%, while egg prices declined by 5.7%, reversing the increase recorded in October and further easing food inflation pressures.
In contrast, monthly non-food inflation rose by 2.1% in November, contributing 1.3 percentage points to headline inflation. This increase was primarily driven by higher regulated prices, which rose by 2.3% following the fuel price hike of 11.6% implemented on October 17 and the subsequent 13.7% increase in public inland transportation fares. Additional upward pressures came from a 7.8% rise in LPG prices and a fifth consecutive monthly increase in tobacco prices, which rose by 0.6%.
Prices of services also increased by 2.2% during the month, reflecting higher rents, private inland transportation costs, and increased spending at restaurants and cafés. Retail prices rose by 1.3%, driven by higher prices for clothing and footwear, household cleaning products, and personal care items.
Monthly core inflation stood at 0.8% in November, reflecting the combined impact of these developments. Core food prices contributed negatively to core inflation, while services and retail items continued to exert upward pressure.
