Egypt’s Inflation Unexpectedly Quickens After Fuel Subsidy Cuts

Egypt’s inflation rate rose to 26.2% in August, up from 25.7% in July, marking an end to five months of deceleration, according to the state statistics agency CAPMAS. The increase follows fuel subsidy cuts, disrupting expectations of an interest rate cut for the first time since 2020.

The North African nation’s inflation climbed 2.1% monthly in August, the highest rate since February, compared to a 0.4% rise in July. Food and beverage prices, a key inflation component, increased 29% annually,…