BEIRUT — The Economy Ministry released new higher bread prices on Tuesday. The price increases can be attributed to a rise in global fuel and wheat prices, the ministry said.
Here’s what we know:
• The Economy Ministry’s statement specified that the price of small bread bundles, the minimum weight of which increased by 35 grams to reach 385 grams, will increase by LL1,500 to reach LL7,000. Medium bundles, the weight of which is no less than 815 grams, will be sold at LL11,000. Family-sized bundles decreased significantly in size to 1,085 grams from the previous weight of 1,750 grams, while their price increased by LL3,000 to reach LL14,000.
• The price increase is attributed to the rise in fuel and wheat prices in the international market, in addition to the Lebanese lira’s devaluation against the dollar on the parallel market, the Economy Ministry said in its statement Tuesday.
• The hike in prices comes after a period of uncertainty regarding wheat supply and bread availability in the wake of the Russian invasion of Ukraine, from which Lebanon imports a large proportion of its wheat supply.