People buy vegetables at a supermarket in Beirut. (The Daily Star/Mohammad Azakir)
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Lebanon's revised Consumer Price Index could represent a basis for the calculation of annual wage adjustments, officials told The Daily Star.In the revised CPI, the reference month was switched from December 2007 to December 2013 and the weights attributed to several components of the index were modified based on a recently conducted household survey.According to a national household budget survey recently issued by the CAS, the average household spending in Lebanon totaled $20,749 in 2012 with spending on housing, water, electricity and gas accounting for $5,913 or 28.5 percent of total expenditures followed by food and nonalcoholic beverages at $4,266 or 20.6 percent.In addition to applying new weights to components, the CAS broke down some components of the CPI such as rent into two or three subcomponents.The CAS Consumer Price Index for February 2014 showed a 0.7 percent drop from the previous month.
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