According to the Central Administration of Statistics (CAS), average consumer prices increased by 4.39% y-o-y by November 2017 as reflected by the average Consumer Price Index (CPI) which rose from 96.03 points by November 2016 to an average of 100.25 points in the same period of 2017, with all sub sections recording yearly escalations.
In details, average prices of food and non-alcoholic beverages (20% of CPI) increased 3.67% y-o-y by November 2017.
The average costs of “Housing and utilities” (including: water, electricity, gas and other fuels), which grasped a combined 28.4% of the Consumer Price Index (CPI), rose by 5.28% year-on-year (y-o-y) by November 2017. Specifically, “Owner-occupied” rental costs constituted 13.6% of this category and increased by 3.85% y-o-y, and the average prices of “Water, electricity, gas, and other fuels” constituting 11.8% of the same category rose by an annual 11.03% over the same period.
Also, the average price of transportation grasping 13.1% of the CPI, gained an annual 5.51% which can be explained by the increase of the average international price of oil to $59.93/barrel by November 2017 compared to $45.26/barrel by November 2016.
Finally, Education costs weighting 6.6% of the CPI, increased by 2.73% y-o-y by November 2017.
In November 2017, the CPI grew at a rate of 4.79% compared to November last year. The increase was driven by the recorded annual upticks in the two largest CPI components “Housing and utilities” and “Food and non-alcoholic beverages of 5.28% and 3.67% respectively. The resulting inflation rate is of 4.79% in November 2017.
Monthly Changes in Inflation Levels in Lebanon (Y-o-Y)
Source: CAS