Headline inflation drops to 31.59% in September, monthly core rate at its lowest since 2015

Monthly urban core inflation has recorded its lowest level since December 2015, registering 0.19% in September, according to central bank data. Headline inflation also slowed down to 1.00% m-o-m.

On an annual basis, the headline rate dropped to 31.59% (down from 31.95% in August), with core inflation falling to 33.26% (from 34.86% in August). Explaining the rise in households’ water and gas bills, CAPMAS reports that the prices of water went up by 52.7% m-o-m and natural gas by 20.5% m-o-m.

Food and beverage prices were up 42.2% y-o-y in September on the back of rising prices of meat, poultry and dairy.