Consumer prices in Lebanon start to rise again in October

Consumer prices in Lebanon start to rise again in October
Consumer prices in Lebanon start to rise again in October

After the very slight drop in inflation recorded in September (-0.18%) – the first since February 2022 – the consumer price index (CPI), which calculates the evolution of prices in Lebanese pounds, started to rise again in October, recording an increase of 2.02% compared to September.

Published by the Central Administration of Statistics (ACS), this index also recorded an increase of 15.68% on an annual basis, while in October its annual increase was equivalent to 32.92%, continuing in this same trend of relative slowdown in the increase in consumer prices, which began a few months ago, following the stabilization of the exchange rate of the Lebanese pound. This dynamic is partly due to the fact that the pound/dollar parity was reaching. in October 2023 its same current level (89,500 pounds to the dollar), after several years of fluctuations which caused it to lose more than 90% of its value.

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In detail, it is the prices of various goods and services which contribute the most to this increase on an annual basis (+37.31% year-on-year), ahead of the prices of telecommunications (+28.44%), clothing and shoes (27.64%), food and non-alcoholic drinks (+22.77%) or even restaurants and hotels (21.04%). Only three categories showed single-digit price increases: transportation (+5.01%), education (+0.93%) and furniture (0.42%).

On a monthly basis, the majority of percentage changes are less than 1% in absolute value, with the exception of clothing and shoes (+8.55%), food and non-alcoholic beverages (+5%), alcoholic beverages and tobacco (+2.75%) and housing costs (+1.35%). Only telecommunications prices recorded a monthly decline (-0.09%). Still on a monthly basis, the increase in the CPI was the most significant in the Bekaa (+3.19%). Followed by North Lebanon (+2.56%), Beirut (+2.38%), Nabatiyé (+1.96%), Mount Lebanon (+1.62) and, finally, South Lebanon ( +1.41%).

After the very slight drop in inflation recorded in September (-0.18%) – the first since February 2022 – the consumer price index (CPI), which calculates the evolution of prices in Lebanese pounds, started to rise again in October, recording an increase of 2.02% compared to September.Published by the Central Administration of Statistics (ACS),…


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