According to Bloomberg, Lebanon’s annual inflation rate became the highest globally, surpassing both Zimbabwe’s and Venezuela’s. In details, the Central Administration of Statistics of Lebanon’s figures revealed that the consumer price index soared by 137.8% in August 2021, compared to 123.4% in July, with consumer prices rising by 10.25% on a monthly basis and food prices increasing by 20.82%. In addition, Bloomberg mentioned that Lebanon’s inflation has sharply risen during the past two years amid the aggravation of the financial & economic crisis, with politicians doing little to mitigate its impact, always according to Bloomberg. The agency also noted that the Lebanese Pound has lost circa 90% of its value against the U.S. dollar, bringing around 75% of the population into poverty. Furthermore, Bloomberg revealed that the Lebanese authorities have begun lifting subsidies in the past few months. Finally, the agency commented that the Central Bank is running out of foreign currency cash to continue subsidizing basic goods and has warned the government on several occasions regarding this issue.