Lebanon's inflation crisis: CPI records 7.21% surge in June 2023

The Central Administration of Statistics announced in a statement that the Consumer Price Index (CPI) for June 2023 witnessed a significant surge, reaching 7.21 percent compared to May 2023. 

This rise was primarily driven by an increase in the "water, electricity, gas, and other fuels" index due to the government's adoption of new tariffs. 

Notably, the year-on-year change in the CPI for June 2023 stood at 253.55 percent compared to the same month in 2022. 

The monthly changes in the price index across provinces for June are as follows: 

- Beirut Governorate: Prices increased by 15.15 percent 
- Mount Lebanon Governorate: Prices increased by 4.33 percent 
- North Governorate: Prices increased by 7.30 percent 
- Bekaa Governorate: Prices increased by 12.82 percent 
- South Governorate: Prices increased by 9.60 percent 
- Nabatieh Governorate: Prices increased by 4.72 percent 

The sharp rise in the CPI comes amid Lebanon's ongoing economic crisis that has plagued the country since 2019. The soaring inflation rate has severely impacted citizens, causing concerns over their ability to afford necessities.