Lebanon's annual inflation rate soared to 112.39 percent in July of 2020 from 89.74 percent in the previous month, due to the escalating economic and financial crisis, the ongoing sharp depreciation in the Lebanese pound and political meltdown after a devastating blast in Beirut earlier this month. It is the highest inflation since the aftermath of the country’s civil war three decades ago. Prices advanced faster for housing & utilities (11.6% vs 3.6% in June); food & non-alcoholic beverages (336% vs 247%); transport (93.4% vs 84.7%); health (14.7% vs 10.5%); clothing & footwear (408.9% vs 344.8%); communication (98.6% vs 83.4%); furnishing & household equipment (516.6% vs 412.4%); recreation & culture (142.8% vs 132.9%); restaurant & hotels (472.9% vs 342.5%); and miscellaneous goods & services (234% vs 190.5%). On a monthly basis, consumer prices rose 11.4 percent, after jumping 20.2 percent in the previous month.
Inflation Rate in Lebanon averaged 5.13 percent from 2008 until 2020, reaching an all time high of 112.39 percent in July of 2020 and a record low of -4.67 percent in September of 2015. This page provides the latest reported value for - Lebanon Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Lebanon Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020.
Inflation Rate in Lebanon is expected to be 115.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Lebanon to stand at 53.00 in 12 months time. In the long-term, the Lebanon Inflation Rate is projected to trend around 25.00 percent in 2021 and 15.00 percent in 2022, according to our econometric models.