Lebanon’s average consumer prices rose by an annual 2.77% by august 2019 compared to an annual uptick of 6.29% recorded by August 2018 according to the Central Administration of Statistics (CAS). The rise in prices over the period came on the back of yearly rises registered across all components of the consumer price index (CPI), except Transportation and Health.
The breakdown of the CPI revealed that the average costs of “Housing and utilities” (including: water, electricity, gas and other fuels) which grasped a combined 28.4% of the CPI, climbed by an annual 2.25% by August 2019. In fact, average “Owner-occupied” rental costs (constituting 13.6% of the category) grew by an annual 2.48%. In turn, the average prices of “water, electricity, gas, and other fuels” (11.8% of housing & utilities) recorded a yearly uptick of 1.78% over the same period.
Moreover, the average prices for “Food and non-alcoholic beverages” (20% of the CPI) and “Education” costs (6.6% of CPI) registered yearly upticks of 4.31% and 5.13%, respectively, by August 2019. As for the average prices of “Clothing and Footwear” (5.2% of the CPI), they also rose by 14.26% year-on-year (y-o-y) by August 2019.
Meanwhile, average consumer prices of “Health” (7.7% of the CPI) and “Transportation” (13.1% of the CPI) recorded the respective downticks of 0.73 % y-o-y and 1% y-o-y. The latter slipped mainly due to the decline in average oil prices which slipped by an annual 8.16% to $65.87/barrel by July 2019.