Lebanon’s annual inflation rate increased to 10.04 percent in January 2020, the highest rate since December 2012, as the country faces its worst economic crisis since the end of the civil war in 1990. The government has already asked for technical assistance from the IMF while the banks' capital controls have failed to stem the flight of capital from the country. The Lebanese pound is officially pegged to the US dollar at a rate of 1,500, but it has weakened to as low as 2,600 against the greenback on the parallel market following October's huge protests against the ruling elite. Prices rose faster for almost all categories including housing & utilities (4.25 percent vs 1.29 percent in December), food & non-alcoholic beverages (14.45 percent vs 9.77 percent) and transport (18.24 percent vs 14.15 percent). By contrast, health prices fell (-0.11 percent vs 0.05 percent). On a monthly basis, consumer prices climbed 2.13 percent, after jumping 2.71 percent in the prior month.
Inflation Rate in Lebanon averaged 2.68 percent from 2008 until 2019, reaching an all time high of 11.10 percent in October of 2012 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 March of 2020.
Inflation Rate in Lebanon is expected to be 7.20 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 2.40 in 12 months time. In the long-term, the Lebanon Inflation Rate is projected to trend around 2.40 percent in 2021, according to our econometric models.