According to the Central Administration of Statistics (CAS), Lebanon’s average inflation rate rose by 3.47% y-o-y, compared to an average inflation rate of 5.36% recorded by March 2018.
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 3.65% year-on-year (y-o-y) by March 2019. In details, average “Owner-occupied”rental costs constituted 13.6% of this category and increased by 2.83% y-o-y. As for the average prices of “Water, electricity, gas, and other fuels”(11.8% of the Housing & utilities component), they rose by an annual 4.61% over the same period.
Moreover, the average prices for “Food and non-alcoholic beverages” (constituting 20% of the CPI) and “Education” costs (6.6% of CPI) registered yearly upticks of 7.02% and 5.22% by Q1 2019. In turn, the average prices of “Health”(constituting 7.7% of the CPI), “Clothing and Footwear” ( grasping 5.2% of the CPI) increased yearly by 0.7% and 10.17% in Q1 2019. However, the average price of “Transportation”(grasping 13.1% of the CPI) declined by an annual 1.77%. This decline can be linked mainly to the decline in oil price by an annual 5.06%,given the average price of oil retreated from $67.23/barrel by March 2018 to $63.83 /barrel in the same period this year.
Average Yearly Inflation Levels by Q1