Lebanon’s average consumer prices rose by 3.58% year-on-year (y-o-y) by May 2019 compared to an annual uptick of 5.68% recorded in the same period of 2018, as per the Central Administration of Statistics (CAS). The rise in the first 5 months of the year mainly came on the back of annual upticks registered across the major components.
In details, 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 3.72% y-o-y by May 2019. In fact, average “Owner-occupied” rental costs (constituted 13.6% of this category) grew by a yearly 2.76%. In turn, the average prices of “water, electricity, gas, and other fuels” (11.8% of housing & utilities) recorded a yearly uptick of 4.93% over the same period.
In addition, the average prices for “Food and non-alcoholic beverages” (20% of the CPI) and “Education” costs (6.6% of CPI) registered yearly upticks of 6.21% and 5.17%, respectively, by May 2019. Average prices of “Clothing and Footwear” (5.2% of the CPI) also rose by an annual 14.05% in the first five months of the year.
Meanwhile, the average consumer prices of “Health” (7.7% of the CPI) and “Transportation” (13.1% of the CPI) recorded the respective marginal declines of 0.47% and 0.75% y-o-y. The latter slipped as a result of the lower average oil prices which retreated from $70.22/barrel by May 2018 to $66.75/barrel in the same period this year
Average Inflation Rate by May