Egypt’s inflation rate rose to 36.5% YoY in July, up from 35.7% in June. Consumer prices rose by 1.9% MoM, a slight decline from June’s 2.1%. A notable 68.4% rise in food and beverage costs contributed significantly. The pound’s black market rate is around 38 USD, while banks held it at 30.9. President El-Sisi expressed concerns over further pound weakening, which Goldman Sachs also identifies as a critical risk for Egyptian inflation projections.