According to the Central Administration of Statistics (CAS), the monthly change in Lebanon’s consumer price index stood at 6.80% in July 2023, compared to 7.21% in the previous month. On an annual basis, Lebanon’s CPI soared by 251.53% to 4,858.95 in July, compared to 1,382.22 in July of the previous year, with the average annual inflation rate for the first seven months of 2023 standing at 233.55%. All index constituents saw a sharp rise in their respective prices owing to the acute depreciation of the Lebanese Pound against the US Dollar. In details, the index portrays a 278.50% increase in the prices of food & non-alcoholic beverages (20.0% weight in the index), a 222.34% surge in transportation prices (13.1% weight in the index) amid the rise in fuel & gasoline prices after Russia’s invasion of Ukraine, a shambolic 161.24% rally in the prices of housing – water, electricity, gas & other fuels (11.8% weight in the index), not to mention the frantic 257.31% rise in health prices (7.7% weight in the index), the 192.14% appreciation in education prices (6.6% weight in the index) and the unprecedented 475.43% hike in communication prices (4.5% weight in the index) after the shift to partial or total fresh dollar pricing in the healthcare, education and communication sectors. The following section captures the fluctuation in the key constituents of Lebanon’s consumer basket:

On a geographical basis, all regions across Lebanon saw a monthly rise in their CPI values, with the sharpest increase taking place in Mount Lebanon (7.48%) followed by the Bekaa (7.14%), North (6.78%), Beirut (6.41%), South (6.36%) and Nabatieh (1.52%) regions.