Egypt’s annual urban inflation rate climbed to 14.9% in July 2026, ending a three-month cooling trend. According to the state statistics agency, CAPMAS, the rise was driven by accelerated year-on-year food and beverage costs, which rose 8% despite a slight monthly decline. This uptick, the first since March, highlights persistent economic pressures from fuel costs, currency volatility, and regional geopolitical tensions, complicating the Central Bank of Egypt’s monetary policy outlook ahead of its August 20 rate decision.