Lebanon’s CPI shrinks 2.4% y/y in April

By bne IntelliNews May 22, 2016

Falling food, housing and transport prices cut Lebanon’s CPI by 2.4% y/y in April despite narrowing from a 3.6% annual deflation the preceding month, thus sustaining its downward pattern seen in 2015, data from the statistics office CAS showed. Lebanon’s CPI will remain in the red also this year with the IMF forecasting a contraction of 0.7%.

In monthly terms, the CPI, however, grew 0.8% in April, ticking up from a 0.5% m/m a month earlier on higher transport and clothing charges. Besides falling energy prices, Lebanon’s CPI is being weighed down by falling tourism demand which is reflecting on private consumption in the country.

Food and non-alcoholic beverage prices (20.6% of the basket) fell 1.9% m/m in April on favourable seasonal factors and low import inflation. The annual deflation thus widened to 2.4% from 1.8% y/y in March.

Transport prices (13% of the basket) fell 5% y/y in April (up 3.7% m/m though) whereas restaurant and hotel costs grew 3% y/y.

Housing charges (28.5% of the CPI index) rose 1.7% m/m in April but shrank 5% y/y, on falling utilities charges (down 14.4% y/y). Rent costs rose 2.7% y/y during the month due to high base effects.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Lebanon becomes European Bank for Reconstruction and Development shareholder

Lebanon has become the fifth member country from the Southern and Eastern Mediterranean (SEMED) region to join the European Bank for Reconstruction and Development (EBRD), becoming a shareholder with ... more

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more

US lifts laptop ban on Turkish Airlines flights as of July 5

Passengers boarding an early morning July 5 Turkish Airlines (THY) flight to John F Kennedy International Airport in New York were allowed to include laptops and electronic devices larger than a ... more

Most Read

  1. Erdogan lashes out at Germany, Nato, says "God willing" he'll have Russian missiles soon
    7 hours ago
  2. STOLYPIN: Donbas continues to be as unpredictable as it is unloved
    16 hours ago
  3. Wildfires hit Croatia and Montenegro’s Adriatic coast
    7 days ago
  4. EU allows Gazprom to use an additional 40% of OPAL gas pipeline's capacity
    1 day ago
  5. Tajik president’s 23-year old daughter appointed deputy head of largest Tajik bank
    5 days ago
  1. CHINA RISING: When sleeping giants meet
    14 days ago
  2. Erdogan lashes out at Germany, Nato, says "God willing" he'll have Russian missiles soon
    7 hours ago
  3. Belarus’ retail king Euroopt goes on the road
    20 days ago
  4. STOLYPIN: Russia’s cyber-challenge cuts both ways
    22 days ago
  5. Siemens considers quitting Russia
    11 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss