CPI Increased by 0.89% y-o-y to 100.52 Points in November

Inflation rate reached 0.89% year-on-year (y-o-y) where the Consumer Price Index (CPI) increased to 100.52 in November 2014, compared to 99.64 in November 2013 (noting that this level is adjusted on the new base of 100 in December 2013). Of the 13 sub-indices, 10 increased while the remaining three posted declines. In details, “Clothing and footwear”, “Alcoholic beverages and tobacco” and “Education” witnessed the highest y-o-y increases and demonstrated 18.48%, 8.56% and 4.55% upticks to respective levels of 118.44, 108.40 and 104.55. Similarly, the “Actual rent” and “Furnishings, household equipment and routine household maintenance” sub-indices edged up by a yearly 3.90% and 1.77% to respective values of 103.90 and 101.55. On a positive note, the tourism-related indices improved in November, with “Restaurant and hotels” and “Recreation, amusement and culture” rising by 3.37% and 2.26% y-o-y to 103.16 and 101.88, respectively. The “Food and non-alcoholic beverages” sub-index posted an annual 3.25% uptick to 102.26. In addition, the “Health” sub-indicx posted the lowest yearly growth of 1.16% to 101.16. On the other hand, the sub-index that displayed the greatest decrease was “Communication” with a 24.02% downturn to 75.98 following the reduction of telecom costs in June. The “Transportation” and the “water, gas, electricity and other fuels” sub-indices also posted decreases of 3.93% and 3.87% to 95.71 and 95.21, respectively, probably due to the declining trend of oil prices. On a month-on-month basis, November’s CPI edged down by 0.44% compared to October 2014. Regionally, the CPI of each of the individual regions (Beirut, Mount Lebanon, North, Bekaa, South and Nabatieh) displayed decreases. The biggest monthly decrease was witnessed in the Bekaa region by 0.94%. Meanwhile, the region to display the smallest monthly change was the North, with a slight 0.19% downtick.

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