Mobile  |  About us  |  Photos  |  Videos  |  Subscriptions  |  RSS Feeds  |  Today's Paper  |  Classifieds  |  Contact Us
The Daily Star
MONDAY, 21 APR 2014
08:23 AM Beirut time
Weather    
Beirut
17 °C
Blom Index
BLOM
1,214.01down
Lebanon
Follow this story Print RSS Feed ePaper share this
Consumer prices rise slightly in January
A+ A-

BEIRUT: A 5.3 percent increase in food prices since January 2013 largely balanced out a 19.3 percent drop in the clothing and footwear category, according to the Central Administration for Statistics, while Lebanon’s official Consumer Price Index registered little overall change last month.

The CAS Consumer Price Index for January 2014, issued Friday, showed a minor 0.1 percent increase from December and a 0.33 percent decrease compared to January 2013. By category, the largest movements were in the price of clothing and footwear, which dropped 9.9 percent; food and non-alcoholic beverages, which increased 2.3 percent; and a slight upturn in the cost of alcoholic beverages and tobacco, which rose 1 percent, as compared with December 2013.

Education expenses, while showing no change from the previous month, witnessed an increase of 7.04 percent over the last 12 months. This increase comes after protests in 2013 by students at the Lebanese American University and American University of Beirut over tuition hikes.

While the overall lack of movement in the CPI suggests relative stability in the local market, the internal variations could have an impact on certain economic sectors. Lebanon is highly dependent on its service sector, especially the restaurant and hotel sector that witnessed a 3.94 percent price increase since January 2013, despite the significant decrease in the number of tourists visiting the country.

With the country remaining in difficult economic times and experiencing high unemployment, rising food prices, which are weighted at 19.9 percent of the CPI, are likely to impact Lebanese families’ budgets more than dropping clothing prices, which are weighted at 6.2 percent by the CAS.

 
A version of this article appeared in the print edition of The Daily Star on February 22, 2014, on page 4.
Home Lebanon
 
     
 
CFP / Lebanon / Economics
Advertisement
Comments  

Your feedback is important to us!

We invite all our readers to share with us their views and comments about this article.

Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.

comments powered by Disqus
Story Summary
A 5.3 percent increase in food prices since January 2013 largely balanced out a 19.3 percent drop in the clothing and footwear category, according to the Central Administration for Statistics, while Lebanon's official Consumer Price Index registered little overall change last month.

The CAS Consumer Price Index for January 2014, issued Friday, showed a minor 0.1 percent increase from December and a 0.33 percent decrease compared to January 2013 .
Entities
Advertisement


Baabda 2014
Advertisement
Follow us on Facebook Follow us on Twitter Follow us on Linked In Follow us on Google+ Subscribe to our Live Feed
Multimedia
Images  
Pictures of the day
A selection of images from around the world- Saturday April 19, 2014
View all view all
Advertisement
Rami G. Khouri
Rami G. Khouri
Why Israeli-Palestinian talks fail
Michael Young
Michael Young
Why confuse gibberish with knowledge?
David Ignatius
David Ignatius
Echoes of 1914 characterize the Ukraine crisis
View all view all
Advertisement
cartoon
 
Click to View Articles
 
 
News
Business
Opinion
Sports
Culture
Technology
Entertainment
Privacy Policy | Anti-Spamming Policy | Disclaimer | Copyright Notice
© 2014 The Daily Star - All Rights Reserved - Designed and Developed By IDS