Caretaker Economy and Trade Minister Amin Salam unveiled the Monthly Food Price Index on Friday, developed in collaboration with the World Food Programme (WFP).
Salam met with a WFP delegation on Friday before unveiling the inaugural Monthly Food Price Index for July 2024. This launch marks a major step forward in the ministry’s commitment to improving transparency, combating corruption, protecting consumers, and strengthening oversight.
Following the meeting, Salam and WFP Regional Director Matthew Hollingworth held a joint press conference. They emphasized that the index is intended to provide consumers with a unified system to monitor average food prices in Lebanon, as well as to bolster the ministry’s capacity to track price trends and ensure food security.
Salam expressed his satisfaction, highlighting that this long-anticipated project will provide accurate data on the prices of essential food items, particularly following a dramatic increase of over 60% in several areas of Lebanon, notably in the South, where conflict has erupted. He expressed regret that merchants are leveraging the ongoing instability to drive up prices across a wide range of Lebanese regions.
Salam explained that this project, developed in collaboration with the WFP, required significant effort. He also announced that a detailed monthly report will now be issued, offering in-depth data on the prices of essential consumer goods, particularly food items, by regions across Lebanon, including average prices for more than 75 products.
As for Hollingworth, he expressed his satisfaction with the WFP’s role in launching this project in collaboration with the Lebanese Ministry of Economy and Trade. He emphasized that such a monthly report will enhance trust and transparency, serving as a guiding tool for both citizens and political decision-makers to make necessary decisions that will benefit low-income individuals and the less fortunate throughout Lebanon.
