Key developments: Egypt

Latest figures. The urban inflation rate rose to 22.2% year on year in July as the cost of food and beverages soared by 29.9%. Month-on-month inflation also increased, by 2.4%, compared with a 0.6% gain in June. The cost of food and non-alcoholic beverages rose by 3.1% month on month, after gaining 0.8% in June. The cost of transportation gained 1.7% after stagnating in June, although this was still significantly slower than the 13.5% surge in May, when the government imposed a series of fuel price increases.