The president of the Importers of Food Products Syndicate, Hani Bohsali, stated on Friday that “food products are the least affected by the increase recorded in the Consumer Price Index (CPI) last March (+1.72%) and on an annual basis by 70.36%, especially since the index includes 16 other sectors, including alcohol, clothing, electricity, health, transportation, etc.”
In a statement, he indicated that the food price index has increased by about 50%, while the index for gas and electricity prices has risen by 108% and rents by 117%. New rents surged by 212%, health costs by 45%, and education expenses by 589%.
He revealed that the syndicate had anticipated an increase in food prices last year due to external factors, including the rise in global prices of raw materials and the surge in the customs dollar, which soared from 1,500 to 85,000 Lebanese pounds in five months. Additionally, factors such as tensions in the Red Sea and the rise in transportation costs have played a role.
He explained that “several factors contribute to the rise in commodity prices, such as the 13% increase in transportation costs and the 108% rise in electricity prices.” This leads to a rise in business expenses, he noted, ultimately driving up commodity prices.