alsemanche 97,799 Posted August 26, 2020 Share Posted August 26, 2020 Consumer prices rose an annual 112.4%, compared with just under 90% in June, according to data released by the official Central Administration of Statistics on Wednesday. Inflation was below 20% as recently as in March. [...] -The cost of food and non-alcoholic beverages rose just over 336% compared with last year -Prices of housing, water, electricity, gas and other fuels rose only an annual 11.6% because the government has maintained subsidies for petroleum products -Clothing and footwear were nearly 409% more expensive, while prices at restaurants and hotels rose by almost 473% Lebanon’s peg to the dollar has increasingly withered after the government’s default on $30 billion of Eurobonds in March. The local currency is now trading at around 7,000 to the dollar, compared with a fixed official exchange rate of 1,507.5. Full article: https://www.bloomberg.com/news/articles/2020-08-26/lebanon-inflation-soars-past-100-in-fallout-from-currency-shock Soft, soothing, and succulent Link to post Share on other sites More sharing options...
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