The Central Bank of Egypt (CBE) announced that the annual headline inflation rate jumped 24.4 percent in December 2022, compared to 21.5 percent in November of the same year. In a statement released on Tuesday, the bank said the Consumer Price Index recorded a monthly rate of 2.6 percent in December 2022, compared to 0.2 percent in the same month in December 2021 and 2.7 percent in November 2022. Recently, global inflationary pressures began to re-emerge after signs of recovery for the global economy from the turmoil caused by the emerging coronavirus pandemic. This is mainly due to the developments of the Russian-Ukrainian conflict as risks related to the global economy increased from the
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