Oil Price Surge Threatens Egypt's Inflation

Despite a temporary de-escalation in tensions between the US and Iran, oil prices remain above $90 a barrel, threatening to push Egypt's inflation rate up.

US President Donald Trump ordered a halt to military strikes on Friday evening, but General Dan Caine warned of depleted air defense missile stockpiles and critical munitions. Analysts expect domestic commodity prices to rise if global oil prices remain elevated, as the Egyptian pound faces pressure with the dollar trading above 51 pounds.

Mina Rafik, senior analyst at Prime Investment, predicts Egypt's urban inflation rate will jump to around 15% in July, potentially reaching between 17% and 18% in following months if regional conflict persists.