The yearly change in food and non-alcoholic beverages was 438.65 percent. (Credit: Mohamed Azakir/Reuters)
BEIRUT — A record year-on-year high inflation rate of 224.39 percent was measured in December 2021, according to the monthly Consumer Price Index published by the Central Administration of Statistics.
Here’s what we know:
• In December, the CPI registered an inflation rate 16.52 percent higher than the preceding month. Inflation in Lebanon had been increasing through 2021, especially in the second half of the year with the gradual lifting of Banque du Liban’s subsidies on essential products, most notably on fuel, in the wake of the country’s social and economic crises.
• In terms of yearly change, transportation prices displayed an increase of 522.39 percent, a slight decrease from November’s 579.9 percent. The yearly change in food and non-alcoholic beverages was 438.65 percent. Water, electricity, gas and other fuels increased by 425.35 percent. Restaurant and hotel prices increased by 414.71 percent. Health costs registered a rise of 404.94 percent. The yearly inflation rate was less severe for alcoholic beverages and tobacco; furnishings, household equipment and routine household maintenance; and clothing and footwear, which respectively reached 295.2 percent, 243.73 percent and 233.75 percent.
• As for monthly changes, the prices of water, electricity, gas and other fuels saw the greatest inflation at 44.84 percent, followed by transportation costs at 31.84 percent, restaurant and hotel prices which rose 20.68 percent, and food and non-alcoholic beverage prices which went up 19.14 percent. Meanwhile, alcoholic beverage and tobacco prices rose 19.4 percent compared to November, while the cost of furnishings, household equipment and routine household maintenance went up 12.34 percent and health costs rose by 6.53 percent.
• Education had the lowest inflation rate with respective yearly and monthly increases of 35.04 percent and 0 percent. Telecommunications registered similar figures with a yearly cost increase of 36.17 percent and a monthly increase of 0.9 percent.
• Area specific inflation rates also registered monthly increases with the highest figures registered in South Lebanon at 21.31 percent, followed by 18.63 percent in the Bekaa, 17.67 percent in Mount Lebanon, 14.96 percent in Nabatieh and 10.07 percent in Beirut. South Lebanon had the highest transportation price increase at 49.6 percent, while the same category only saw prices rise by 16.77 percent in Nabatieh.