Lebanon inflation soared 124% in January as economic crisis continued – The National
- Date: 23-Feb-2023
- Source: The National
- Sector:Financial Services
- Country:Lebanon
Lebanon inflation soared 124% in January as economic crisis continued – The National
Inflation in Lebanon hit an annual rate of about 124 per cent in January as the country's worst economic and financial crises in decades continued amid a political deadlock that has blocked the formation of a new government and the enactment of reforms required to unlock billions of dollars in aid.
Hyperinflation continued for the 31st consecutive month, led by the soaring communication, education, health, restaurant and hotel prices, as well as rising food, water and energy costs, the Central Administration of Statistics' Consumer Price Index showed.
The CPI increased by about 8.43 per cent from December 2022.
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