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| Consumer prices rise by 8
percent in Lebanon BEIRUT - The prices of basic commodities in Lebanon soared by 8.59 percent in the first eight months of 2008, according to the Consumer Price Index published by Bank Audi's Weekly Monitor. "Throughout the eighth month of the year, inflation in Lebanon shot sharply upwards, after it was progressing at a more moderate rate over the past three months," it said. The figures showed that prices surged by 1.45 percent in the month of August 2008 alone, following slightly more temperate monthly increases that did not go beyond 0.51 percent. Audi said that based on these figures, inflation in Lebanon up to August 2008 has reached 11.44 percent. "The significant monthly inflation witnessed in August 2008 is primarily caused by a rise in food prices of 4.64 percent throughout the month, as other sub-indicators in the index witnessed decreases or trivial increases in their price levels," Audi said. The increase in the CPI was mostly due to a leap of 15.38 percent in prices of food and beverages, a surge of 11.96 percent transport and telecommunication, an increase of 8.29 percent in personal care and other products, a rise of 6.92 percent in housing and 6.0 percent in healthcare. - Audi Weekly Monitor |
