Lebanon expected to record second-highest inflation rate globally in 2022 – The National

Lebanon expected to record second-highest inflation rate globally in 2022 – The National

Lebanon is expected to post the second-highest inflation rate in the world this year, trailing only Sudan, according to Fitch Solutions.

Inflation in the country, which faces its worst economic crisis in more than three decades, will average 178 per cent in 2022, up from about 155 per cent last year, Fitch said.

This is an upward revision from Fitch's previous forecast of about 156 per cent for this year due to stronger inflationary pressures from the adjustment of telecommunications, port and customs tariffs, it said.