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

Turkey, Iraq, Qatar and UAE ink initial Development Road transit corridor agreement

Turkey, Iraq, Qatar and UAE have inked a preliminary agreement to cooperate on the Development Road project, which envisages the transit of goods received at an Iraqi commodities port facilty in ... more

Xlinks warns cost of Morocco-UK Power Project could rise some 25% to reach $30bn

UK renewable energy producer Xlinks, noting significant upward pressure on the cost of all energy projects, has warned that construction of the Morocco-UK Power Project could reach $27bn to $30bn, up ... more

Morocco in talks with investors to build EV battery gigafactories, says minister

The Moroccan government is in extensive talks to attract more electric vehicle (EV) battery manufacturers to support its growing automotive sector and meet soaring demand, industry and trade minister ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    7 days ago
  2. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    7 days ago
  3. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  4. Russia’s war economy boosted by rising oil prices
    8 days ago
  5. Poland’s Orlen paid $400mn to scammers for oil that never arrived
    12 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    25 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    29 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    27 days ago
  5. UBN: Russia could take the Baltic states in 48 hours
    1 month ago

Reports

Dismiss