Inflation up by 3 Percent!
The inflation rate in Lebanon registered a 3 percent rise in the month of December 2011 compared to the same period in 2010, the Central Bureau of Statistics reported Monday, while the cost of consumer goods rose by 17.6 percent in the month of December compared to the same period in 2007.
The report, released Monday, added that inflation rates registered a 0.04 percent rise in December 2011 compared to November of the same year.
Central Bank Governor Riad Salameh has said that Lebanon’s annual inflation rate for 2011 was around 6 percent, but many economists have argued that the real figure is far higher, due to the soaring prices of consumer goods over the past three years.
The consumer price index, according to the report, indicated that throughout the month of December 2011, the cost of food and commodities had remained steady.
Meanwhile, prices of foodstuffs and non-alcoholic beverages registered a 1 percent rise in December, while those of alcoholic beverages and tobacco rose by 0.5 percent.
The cost of furniture and household equipment rose by 0.1 percent, while that of Healthcare and Telecoms remained unchanged.
The cost of leisure-related activities rose by 1.1 percent , prices at restaurants and hotels went up by 0.1 percent
The fastest increase year-on-year however, came from education (7.55%), alcoholic beverages and tobacco (11.4%), food (5.87%), and clothing (6.33%). The only two components to decline are transport (-2.67%) and communication (-0.01%).
PS: These figures were before the increase in wages became effective !