Lebanon inflation hits 264% in March as currency devaluation bites – The National
- Date: 27-Apr-2023
- Source: The National
- Sector:Financial Services
- Country:Lebanon
Lebanon inflation hits 264% in March as currency devaluation bites – The National
Inflation in Lebanon hit an annual rate of about 264 per cent in March as the Lebanese pound continued to lose value on the parallel and official markets since it was devalued by 90 per cent at the start of February.
Hyperinflation continued for the 33rd consecutive month, led by soaring communication, alcoholic beverage and tobacco costs, restaurant and hotel prices, health, as well as rising food prices and water and energy rates, the Central Administration of Statistics' Consumer Price Index showed.
The CPI increased by about 33 per cent from February 2023.
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