BEIRUT— The Economy Ministry reduced the price of Arabic bread bundles after the Lebanese lira regained some of its value against the US dollar Friday. The national currency now trading at around LL28,000 to the dollar on the parallel market.
Here’s what we know:
• Coinciding with the decrease in fuel prices, the cost of bread bundles, in all three sizes, was lowered Friday evening.
• The Economy Ministry announced in a statement that a large bread bundle, the minimum weight of which has decreased from 835 grams to 830 grams will sell for LL9,000 in bakeries, a per-gram price decrease of 11.62 percent. The small bundle meanwhile will still sell for LL5,500 in bakeries for a minimum weight of 350 grams — a 5 gram increase — constituting a per-gram price decrease of 7.14 percent.
• A family-size bundle of bread will still be sold in bakeries at LL11,000 but will have a minimum weight of 1,075 grams, as opposed to its previous weight of 1,050 grams.
• The Ministry last hiked bread prices Wednesday, as Arabic bread shortages persisted in supermarkets and bakeries for two days.
• Bakery owners’ syndicate head Ali Ibrahim had attributed the lack of bread to “panic-buying, not wheat and flour shortages.”
CORRECTION: A previous version of this post said the "family-size" bundle's weight is now set at 1,750 grams. It is 1,075 grams.