The Central Administration of Statistics (CAS) has published the consumer price index for March (+1.72%) which shows that prices have continued to rise, bringing cumulative inflation from the end of 2018 to the end of March 2024 to 5,751%. Of note, this index rose by 70.36% year-on-year, the CAS said.
The restaurant and hotel sectors continue to dominate inflation, up 28.407% since the end of 2018, followed by food and non-alcoholic beverages at 23.379% and spirits and tobacco at 17.952%.
Commodities are the most affected by inflation, which means that Lebanese families are feeling the pinch when it comes to purchasing basic needs. Moreover, inflation is holding steady despite the relative stability of the exchange rate over the past year or so. The figures for the last few months clearly indicate that the exchange rate is no longer the driving force behind inflation, but that prices now seem to be rising in dollars.
This phenomenon has been observed since the caretaker Ministries of Energy, Economy and Tourism authorized pricing and payment in dollars, contributing to a significant rise in prices.
