Consumer price index drops for the first time since January

BEIRUT — Lebanon’s consumer price index fell 0.75% in June, marking the first monthly decline after four consecutive increases, despite rising oil prices linked to the U.S.-Iran conflict.

The country also experienced ongoing clashes between Hezbollah and Israel, in a virtually paused conflict still marked by continued Israeli military operations in an area that Israel occupies in southern Lebanon.

Despite this first decline in the CPI since January, inflation remained high, with an annual increase of 17.25% and an average of 16.16% in the first half of the year, according to data published this week by the Central Administration of Statistics, attached to parliament.

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In detail, the largest monthly decrease was seen in the sub-index measuring housing energy and water prices (-5.02%), recreation (-3.41%) and transportation (-1.65%). All three sub-indices still show double-digit annual increases, at 25.30%, 42.64% and 29.36% respectively.

The CPI also declined month-on-month in all mohafazats: by 0.15% in the North, 0.70% in South Lebanon, 0.73% in Beirut, 0.76% in Mount Lebanon, 1.43% in the Bekaa and 1.59% in Nabatieh.