Lebanon’s Inflation Hits High of 208.5% By September 2023

According to the Central Administration of Statistics (CAS), the Consumer Price Index (CPI), representing the evolution of goods and services’ prices consumed by households, revealed that Lebanon’s inflation rate registered another high level of 208.5%. It is worth noting that despite this persistent elevation in inflation, there appears to be a decreasing trend since April 2023 when it peaked at 268.78%. Nonetheless, this inflationary trend persists due to elevated prices across multiple sectors, primarily attributed to the widespread adoption of US dollar for daily expenditures and the significant increase of the custom dollar rate.

In details, the cost of “Housing and utilities”, inclusive of water, electricity, gas and other fuels (grasping 28.4% of the CPI) added a yearly 229.63% by September 2023. Also, “Owner-occupied” rental costs increased by 324.04% year-on-year (YOY) and the prices of “water, electricity, gas, and other fuels” followed a significant increase by 147.87% YOY.

Looking at the prices of “Food and non-alcoholic beverages” (20% of CPI), it surged by 239.05% yearly. In turn, the average prices of “Transportation” (13.1% of the CPI) and “Health” (7.7% of the CPI) recorded hikes of an annual 176.03% and 215.83% respectively by September 2023. Also, “Restaurant and Hotels” (2.8% of CPI) increased yearly by 235.07% by September 2023.

In the same token, costs of “Clothing and Footwear” (5.2% of CPI) surged by 234.99% by September 2023, and the prices of “Communication” (4.5% of the CPI) increased by 120.92%.

Finally, prices of “Furnishings and household equipment” (3.8% of CPI), “Alcoholic beverages and tobacco” (1.4% of CPI), and “Recreation, amusement, and culture” (2.4% of the CPI) increased by 188.3%, 234.99%, and 162.27%, respectively, by September 2023.

Inflation rate by September 2023

Lebanon’s Inflation Hits High of 208.5% By September 2023



This article is a research document that is owned and published by Blominvest Bank SAL.

No material from this publication may be modified, copied, reproduced, repackaged, republished, circulated, transmitted or redistributed directly or indirectly, in whole or in any part, without the prior written authorization of Blominvest Bank SAL.

The information and opinions contained in this document have been compiled from or arrived at in good faith from sources deemed reliable. Neither Blominvest Bank SAL, nor any of its subsidiaries or affiliates or parent company will make any representation or warranty to the accuracy or completeness of the information contained herein.

Neither the information nor any opinion expressed in this research article constitutes an offer or a recommendation to buy or sell any assets or securities, or to provide investment advice.

This research article is prepared for general circulation and is circulated for general information only.

Leave a Reply

Your email address will not be published. Required fields are marked *