The cost of restaurants and hotels increased by 385.5 percent between March 2022 and March 2023. (Credit: João Sousa/L'Orient Today)
Lebanon's annual inflation surged by 264 percent in March 2023, according to the latest data by the Central Administration of Statistics.
This rate measures inflation between March 2022 and March 2023.
Telecommunication prices increased by 621 percent, alcohol and tobacco prices increased by 451 percent, and health sector prices increased by 374 percent.
On a monthly basis, prices increased by 33 percent in March 2023 compared to February 2023. Telecoms prices are the main driver of the increase (+52 percent), followed by transportation costs (+49 percent) and the cost of restaurants and hotels ( +40 percent).
Prices increased unevenly throughout Lebanon, with North Lebanon governorate recording the highest increase(+39 percent), and Nabatiyeh governorate recording the lowest one (+27 percent).
Lebanon is facing its fourth year of economic and financial crisis. The country's annual inflation rate has been in triple digits for three years now.
This article was originally published in French in L'Orient-Le Jour.
