Lebanon’s annual inflation rate fell to 35% in August 2024, from 35.37% in July 2024, recording its lowest level since March 2020, according to the Central Administration of Statistics (CAS). The decrease resulted from the increase of dollarization rates by businesses and to the stability of the exchange rate especially since August 2023. Meanwhile, the continued escalating political and military tensions in the Middle East and its effect on Red Sea sea-shipping traffic threatens to disrupt supply chains, which will increase shipping costs, and consequently lead to an increase in inflation.
Source: CAS, BLOMINVEST
In details, it is worthwhile to note that Education (6.6% of CPI) increased by 587.67% YOY due to the dollarization of education fees and Miscellaneous goods & services (4.1% of CPI) rose by 43.84% YOY during the same period.
On a monthly basis, inflation between July and August 2024 stood at 0.64%.
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