Annual consumer price inflation in urban Egypt slowed to 12.7% in October 2026, from 13.9% in September, according to data from the Central Agency for Public Mobilization and Statistics (CAPMAS) reported by the Central Bank of Egypt. The central bank’s measure of core inflation also declined, from 14.1% to 13.1%.
The latest slowdown has not brought either rate below its October 2025 level. Urban headline inflation was 12.5% a year earlier and core inflation was 12.1%. October 2026 readings were therefore 0.2 and 1.0 percentage points higher, respectively, according to the central bank’s official statements for the two periods.
In Annual inflation rate (%)
Source: Central Bank of Egypt CPI statements for August, September and October 2026; CAPMAS urban headline and CBE core series.
| Urban headline inflation (%) | Core inflation (%) | |
|---|---|---|
| August 2026 | 14.5 | 14.9 |
| September 2026 | 13.9 | 14.1 |
| October 2026 | 12.7 | 13.1 |
Monthly core prices accelerate
The annual slowdown masks different month-on-month movements. Urban headline prices rose 0.7% in October, following a 1.3% increase in September and 1.8% in October 2025. The core consumer price index rose 1.2% during October, up from 0.8% in September. The corresponding monthly increase in October 2025 was 2.0%.
In Monthly change (%)
Source: Central Bank of Egypt, October 2026 CPI statement; September and October figures.
| Urban headline prices (%) | Core consumer prices (%) | |
|---|---|---|
| September 2026 | 1.3 | 0.8 |
| October 2026 | 0.7 | 1.2 |
The Central Bank of Egypt calculates core inflation by excluding government-regulated prices and volatile food items such as fruit and vegetables. It measures a different basket from the headline consumer price index and is intended to complement, not replace, the CAPMAS measure.
National and urban inflation cover different populations
Figures presented by Egypt’s government on November 5 placed nationwide annual inflation at 12.0% in October, down from 12.8% in September. On that national basis, monthly inflation slowed to 0.6% from 1.5%. Those readings are distinct from the urban headline annual rate of 12.7% and its 0.7% monthly change.
Policy rates rose before the October data appeared
On October 29, before the latest consumer-price figures were released, the Central Bank of Egypt raised its key policy rates by 100 basis points. The overnight deposit rate rose to 20.0%, the overnight lending rate to 21.0%, and the main operation rate to 20.5%. At the time, it cited higher global commodity prices and risks from tighter external financial conditions.