Egypt Inflation Soars as Higher Food Costs Add to Currency Angst

Egyptian inflation soared to a fresh record, with consumer costs now increasingly at the mercy of whether authorities will allow the pound to weaken again.

Price growth in urban parts of the country accelerated to an annual 37.4% in August from 36.5% the previous month, according to figures released Sunday by the state-run CAPMAS statistics agency. On a monthly basis, inflation was 1.6%, compared with 1.9% in July.

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