Egypt’s Inflation Soars to Record as Food Drives Surge Past 35%

Sign up for our Middle East newsletter and follow us @middleeast for news on the region. Consumer prices in Egypt soared at a record pace, a reflection of pressures on food costs after the Muslim feast holiday and a pick-up in summer spending. Inflation in urban parts of the country quickened sharply in June to an annual 35.7%, from 32.7% in the previous month, according to figures released Monday by the state-run CAPMAS statistics agency. It’s the fastest in data going back to December 2009. The upswing was fueled largely...