The Consumer Price Index (CPI) — or the benchmark indicator that tracks inflation — rose by 0.56 percent in August, marking a slowdown compared to the previous month (+1.32 percent), according to the latest numbers published Monday by Lebanon’s Central Administration of Statistics (CAS). 

The CPI rose 14.17 percent year-on-year, slightly below the 14.24 percent in July, but remains nonetheless significantly high.

In a video statement shared on social media last month, Economy and Trade Minister Amer Bisat acknowledged that Lebanon’s numbers were high “compared to emerging markets and the global economy, where inflation averages between 3 to 4 percent.” 

With the country’s monetary and fiscal policies already tight, and despite the Lebanese Lira (LL) remaining stable for the past two years (at LL89,500-to-the-dollar), the minister evoked structural issues associated with the Lebanese economy, including its heavy dependence on imports, and the absence of proper market competition.

On a monthly basis, the categories that experienced an increase in prices were food and non-alcoholic beverages (+3.40 percent), followed by restaurants and hotels (+0.97 percent), rent (+0.9 percent), health (+0.49 percent) and alcoholic beverages and tobacco (+0.33 percent), while clothing and footwear recorded a decrease of 2.29 percent.

On a yearly basis, education continued to top the list with a 30.74 percent increase year-on-year, followed by new rent (+28.83 percent), food and non-alcoholic beverages (+23.55 percent), alcoholic beverages and tobacco (+14.12 percent), and restaurant and hotels (12.16 percent).

Geographically, the CPI marked a slight uptick in all regions with North Lebanon leading the way (+0.96 percent), followed by the South (+0.8 percent), Beirut (+0.67 percent), Nabatieh (+0.41 percent), Mount Lebanon (+0.39 percent), and the Bekaa (+0.36 percent).