The Lebanese Ministry of Economy and Trade announced Tuesday a slight increase in the price of the various Arabic-style bread bundles which, when calculated per gram, translates into a slight increase in the prices of the medium and large packages and a minimal decrease in the price of the small bundle.
The latest tariff follows record depreciation of the Lebanese lira, which by Tuesday evening was trading at more than LL88,500 to the US dollar on the parallel market.
According to a statement issued by the Ministry of Economy and Trade, a small 353-gram bread bundle now costs LL19,000, compared to LL18,000 for 344 grams last Tuesday.
A medium package of 832 grams now costs LL32,000, against LL31,000 previously for 823 grams.
Finally, a large package of bread, which weighs 1,015 grams now costs LL38,000, against the previous price of LL37,000 for 1,024 grams.
Caretaker Minister of Economy and Trade Amin Salam justified last week to L'Orient-Le Jour these successive price increases by various factors, notably the sharp decrease in the value of the lira against the dollar since mid-January. The national currency's volatility has caused fuel prices and other components used in the manufacture of bread to soar in Lebanon, which affected the price of bread by "up to 40 or 50 percent."