Lebanon Businessnews News

Most food prices are up
except when down abroad
Variation from 12 percent decrease

to 20 percent increase

Share     Share on Facebook     Share on LinkedIn    
The prices of most food products sold in supermarkets increased from one to 20 percent between Dec. 16 and Jan.13, according to data gathered by the Ministry of Economy and Trade.

The increase in prices is mainly driven by the rise in the exchange value of the U.S. dollar, according to Michel Abchee, Chairman of ADMIC, the operator of BHV and Monoprix.

The difficulty to transfer money to exporters makes it difficult to the dealers to import merchandise. “The limited supply with a high demand also contributed to the increase of food prices,” Abchee said.

Some vegetables and fruits witnessed a decrease in their prices. According to Abchee, the decline in the prices of sugar, coffee, and some legumes, is due to the drop in their international prices.

Supermarkets are adjusting the prices of available imported items as the cost of item replacements is increasing, Abchee said.

Source: Ministry of Economy and Trade

According to the Central Administration of Statistics, the price index of food and non-alcoholic beverages climbed 6.4 percent in December compared with the previous month. The price index of vegetables jumped 12.4 percent over the same period. Prices of bread and legumes increased 3.2 percent. Each of the price indices of meat products and edible oils rose 7.9 percent, while that of dairy products increased 3.9 percent.
Reported by Gisele Khalaf
Date Posted: Jan 28, 2020
Share     Share on Facebook     Share on LinkedIn