The Economy Ministry announced a decline in bread prices on Monday, after the Lebanese lira gained some value over the weekend.

Here’s what we know:

    • A small bread bundle weighing 370 grams now costs LL7,000 lira, when it used to be 365 grams at LL9,000. The medium size weighing 875 grams for 12,000 lira after 825 grams were previously priced at LL15,000.

    • A family bread bundle that weighs 1,055 grams was priced on Monday at LL 14,000 lira, after it was priced at LL16,000 for 1,095 grams.

    • Bread prices were reviewed and increased last Friday as the Lebanese lira rate hit its highest low, trading over LL37,000 per dollar. But after Banque du Liban issued a statement that people may transfer liras to dollars at commercial banks starting Monday, the lira gained some of its value and the bread prices decreased slightly as a consequence.

    • The statement pointed out that the decline in the lira to dollar exchange rate on the black market was reflected in a noticeable decrease in the price of bread, in addition to the fact that the decrease in the price of fuel directly affects the price of flour production and transportation.