2023-08-21 16:42:33
With an increase of 6.8% in one month, the consumer price index published by the Central Statistics Administration (ACS) rose once more last July, according to the latest update published Monday and available online. This is the 17th month of consecutive rise in book prices measured by this index since the slight decline observed in February 2022 (-3.13% monthly).
Note that the exchange rate on the market went from 92,500 pounds to 90,000 pounds for one dollar between July 1 and July 31 according to data from the site lirarate.org, and recorded two peaks above 94,000 LL over this period.
On an annual basis, the CPI posted an increase of 251.5% compared to its value in July 2022, slightly less than the 253.55% annual increase recorded at the end of June, while nothing seems to announce any slowdown in inflation, in a country in crisis for 4 years. The national currency has also lost 98% of its value over this period and most of the prices in the country are calculated in dollars and converted into pounds at the current rate – even at a rate close to that of the market but chosen to discretionary way by the company that practices them.
Nabatieh far behind
Quite surprisingly, one of the drivers of inflation recorded in July was raised at the level of health expenditure. An increase that neither the union of drug importers, nor the College of Physicians, nor even the union of public hospitals might explain, according to three spokespersons we contacted. Neither the ACS nor the presidency of the Association of Insurance Companies in Lebanon were immediately available to provide details on this figure. The second strongest increase was noted in housing expenditure (+7.8% monthly), and the category of miscellaneous goods and services completed the podium.
The only monthly decrease was noted on the side of Telecom tariffs. A logical trajectory insofar as the prices of telephony and mobile Internet are fixed in dollars and then converted at the rate of the Sayrafa platform of the Banque du Liban which fell slightly from June to July. This rate evolves a few thousand pounds below that of the market according to its own logic.
Finally, in terms of distribution, it is in Mount Lebanon that prices increased the most compared to June (+7.5%), followed by Bekaa (+7.1%), North Lebanon ( +6.8%), Beirut and South Lebanon (+.6.4% each), far ahead of Nabatiyé (+1.5%).
With an increase of 6.8% in one month, the consumer price index published by the Central Statistics Administration (ACS) rose once more last July, according to the latest update published Monday and available online. This is the 17th consecutive month of price increases in pounds measured by this index since the slight decline observed in February 2022 (-3.13…
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