Inflation in Lebanon increased an average 189.4 per cent in the first 11 months of 2022, from the same period a year earlier, according to data from the Central Administration of Statistics.
Hyperinflation continued for the 29th consecutive month, rising annually to about 142.4 per cent in November from the same month a year earlier, the administration’s Consumer Price Index showed. The CPI increased about 3.74 per cent from October 2022.
Lebanon is expected to post the second-highest inflation rate in the world this year, behind Sudan, according to Fitch Solutions.
The country is in the grip of an economic crisis described by the World Bank as one of the worst in modern history and has yet to enforce critical structural and financial reforms required to unlock $3 billion of assistance from the International Monetary Fund.
