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Lebanon CPI decline accelerates slightly in May

Food and non-alcoholic beverage price led the decline, dropping 2.2 percent, while health care and transportation prices increased by 0.8 and 0.6 percent, respectively. (The Daily Star/Mahmoud Kheir)

BEIRUT: The decline in consumer prices accelerated slightly in May, according to the latest statistics from Lebanon’s Central Administration of Statistics.

Lebanon’s Consumer Price Index, published Monday, showed a 0.3 percent decline in May, compared with 0.1 percent the previous month. May’s results bring overall inflation since the beginning of the year down to 1.32 percent.

Because statistics were not collected from January to May 2013, it will not be not possible to calculate the year-on-year increase in Lebanon’s cost of living until the June figures are published. Lebanon launched a new, expanded CPI in March, after consulting with the International Monetary Fund to produce a more accurate picture of the average Lebanese household’s expenses.

Food and non-alcoholic beverages led the decline, dropping 2.2 percent, while health care and transportation prices increased by 0.8 and 0.6 percent, respectively.

By region, the Beirut subindex mirrored the national index, while the South and Mount Lebanon recorded a slightly smaller 0.2 percent decline. The North subindex fell by 0.6 percent, while the Bekaa was flat.

The Nabatieh subindex increased by 0.2 percent, largely driven by a 3.5 percent jump in restaurant and hotel prices, compared with a 0.1 percent increase nationally in that component.

Nationally, communication prices dropped 0.2 percent, a trend that is likely to increase as telecoms implement new prices set by Telecoms Minister Boutros Harb. The price of phone calls were lowered in May, while new landline and mobile phone Internet plans are set to go into effect July 1, though some operators began switching over in June.

 

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