Source: L'Orient Today
Bulgarian authorities said Tuesday they have detained the owner of the Rhosus, the ship that transported the deadly cargo of ammonium nitrate to Beirut in 2013, in a move that could inject new momentum into the stalled probe of the 2020 port explosion.
Tuesday, September 16, 2025
The Russian owner of a cargo ship linked to a cargo of ammonium nitrate at the center of the massive Beirut port explosion in 2020 has been arrested in Bulgaria, Lebanese judicial officials said Monday.
Monday, September 15, 2025
Lebanon’s flag carrier Middle East Airlines — wholly owned by the central bank, Banque du Liban — plans to launch a low-cost subsidiary to serve destinations in the EU and the Middle East in what would be a welcome addition to the sector.
Sunday, August 31, 2025
When Sabah thinks about Lebanon’s turmoil and what lies ahead, she finds herself filled with rage and despair. While much of the world carries on uninterrupted, the lives of tens of thousands of young men and women in the country remain in limbo.
Tuesday, August 26, 2025
Manchester City boss Pep Guardiola says the club expects to learn the outcome of the hearing into its 115 charges of alleged Premier League financial rule breaches "in one month".
Saturday, February 8, 2025
Former Brazil and Real Madrid defender Marcelo has announced his retirement from football, bringing the curtain down on a trophy-laden career that included five UEFA Champions League triumphs.
Friday, February 7, 2025
Tuesday 22 October 2024 13:11:21
For the first time since February 2022 and only the second time since the outbreak of the economic crisis in Lebanon at the end of 2019, the consumer price index (CPI), which calculates price trends in Lebanese pounds, posted a monthly decline in September.
Published by the Central Administration of Statistics (CAS), this index recorded a slight decrease of 0.18 percent in September compared with August 2024, whereas it had risen by 0.64 percent in monthly terms during that month. On an annual basis, prices rose by 32.92 percent between August and September, compared with 35 percent in the previous month, continuing the trend towards a relative slowdown in consumer price rises that began several months ago, in the wake of the stabilization of the Lebanese pound exchange rate.
This dynamic is partly due to the fact that, in September 2023, the pound/dollar parity had reached its current level (89,500 pounds to the dollar), after several years of fluctuations that saw it lose over 90 percent of its value. Despite the fall in the CPI on a monthly basis, indicating a very slight decrease in prices in one month, the real cost of living in September 2024 remains 32.92 pecrent more expensive than in September 2023.
In detail, education spending is the biggest contributor to this increase (+587.24 percent year-on-year), as schools and universities continue to adjust their prices, which have been heavily impacted by the economic crisis. They are ahead of prices for miscellaneous goods and services (+41.66 percent) and leisure (+31.11 percent). At the same time, many categories are showing annualized growth rates in excess of 20 percent, including telecommunications (+28.4 percent), clothing and footwear (+24.47 percent), restaurants and hotels (22.28 percent) and accommodation (+20.27 percent).
On a monthly basis, the majority of percentage changes are below 1 percent in absolute terms, with the exception of food and non-alcoholic beverages (+2.96 percent), restaurant and hotel prices (+1.56 percent) and furnishings (+1.38 percent). On the other hand, prices are down on a monthly basis in four categories: Transport (-3.3 percent), clothing and footwear (-1.37 percent), telecommunications (-0.23 percent) and housing costs (-0.01 percent). Still on a monthly basis, the CPI decline was greatest in Nabatieh (-0.77 percent) and South Lebanon (-0.34 percent). Next came the Bekaa (-0.28 percent), Mount Lebanon (-0.22 percent) and Beirut (-0.01 percent). Only North Lebanon (-0.17 percent) saw a monthly price increase (+0.17 percent).
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