According to the Central Administration of Statistics (CAS), the Lebanese economy’s average inflation rate stood at 6.26% year-on-year (y-o-y) by November 2018 since the average Consumer Price Index (CPI) reached 106.53 by November 2018 compared to 100.25 during the same period last year. In reality, consumer prices went up across all sub-categories.
In details, the average price of “Housing and utilities” (Housing water, electricity, gas and other fuels) constituting a combined 28.4 % of the CPI, witnessed a yearly rise of 7.05%, on the back of increases in its components. “Owner-occupied” rental costs (grasping 13.6% of this category) and “Water,electricity,gas and other fuels” (grasping 11.8% of this category) rose by 3.94% y-o-y and 11.22% y-o-y, respectively .
Also, the average costs of “Food and non-alcoholic beverages” (20% of CPI) rose by a yearly 5.07% by November 2018. As for the average prices for “Transportation” (13.6 % of CPI), they increased by 8.57% y-o-y, and this can be mainly due to the significant rise in average oil prices by a yearly 35.45% to reach $72.87/barrel by November 2018.
In addition, the average price for “Health” (7.7% of CPI), “Education” (4.33% of CPI), and “Clothing and footwear” recorded a yearly upticks of 5.24%, 4.33% and 15.84 , respectively.
Average Yearly Inflation Rates by November
Source: CAS