Nabil Fahed to LBCI: Consumer goods prices decreased due to currency depreciation

The president of the Supermarket's Syndicate in Lebanon, Nabil Fahed, has revealed that the consumer goods prices of a basket have decreased by 7.3 percent between March 2022 and March 2023 after the currency depreciation and have returned to stability in the past few weeks.

However, Fahed pointed out that the food basket is the primary determinant of price changes and stability.

On LBCI's "Nharkom Said" TV show, Fahed further explained that competition plays a crucial role in lowering and stabilizing prices of goods, emphasizing that the prices of goods are closely linked to the dollar's exchange rate on an hourly basis.