Egypt’s inflation rate accelerated for the first time since March, disrupting an easing streak that had lasted for much of the ongoing US-Iran war. Consumer prices in urban areas increased an annual 14.9% in July versus 14.3% the month before, according to state statistics agency CAPMAS. On a monthly basis, prices were unchanged after a 0.4% fall in June.

The pickup in inflation marks a reversal of the downward trend seen since March, when price growth had been steadily declining. The data underscores ongoing economic pressures in Egypt amid regional tensions and domestic monetary policy adjustments.

Analysts note that while the monthly figure showed stability, the annual increase suggests persistent underlying cost pressures. The unchanged monthly reading follows a modest decline in June, indicating some volatility in short-term price movements.

Egypt’s central bank has maintained a tightening stance to rein in inflation expectations, though the July figure highlights the challenges of sustaining disinflation in a volatile environment.