Source: L'Orient Today
Lebanon’s health ministry said an Israeli strike on the southern town of Saksakiyeh killed at least seven people on Monday, with state media reporting women and children among the dead.
Monday, November 11, 2024
Taiwan on Monday said it had closed a probe into pagers that exploded in Lebanon in September and caused a deadly blow to Iran-backed Hezbollah, saying no Taiwanese citizens or companies were involved.
Monday, November 11, 2024
There are many scenarios that could play out for Iran in Donald Trump's second term, from an all-out escalation in hostilities to “striking a grand deal”, analysts have told The National.
Thursday, November 7, 2024
On Thursday, White House officials returned from a visit to Israel, in a last-ditch effort to broker a ceasefire between Israel and Hezbollah, which now looks unlikely to happen before this week’s presidential election. After the election, for any diplomatic path to be viable, the world first needs to see Lebanon establish a new anti-Hezbollah government that demands Hezbollah surrender its arms to the Lebanese Armed Forces.
Tuesday, November 5, 2024
Amad Diallo scored twice to breathe life into Manchester United's Europa League campaign with a morale-boosting 2-0 victory over Greek champions PAOK Salonika at Old Trafford.
Friday, November 8, 2024
This is always a huge game but with Chelsea and Arsenal level on points, Sunday’s clash at Stamford Bridge just got bigger.
Thursday, November 7, 2024
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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