Lebanon's economic struggle continues: CPI soars 6.8% in July 2023

The Central Administration of Statistics revealed that the Consumer Price Index (CPI) in Lebanon for July 2023 recorded an increase of 6.8 percent compared to June 2023. 

This increase was driven by a rise in the "Medical and Hospital Services" index, noting that the prices of this category are collected annually. 

It is noteworthy that the year-on-year change in the CPI for July 2023 reached 251.5 percent compared to July of the year 2022.

The monthly changes in the price index across governorates are as follows:

- An increase in Beirut Governorate by 6.4 percent.
- An increase in Mount Lebanon Governorate by 7.5 percent.
- An increase in North Governorate by 6.8 percent.
- An increase in Bekaa Governorate by 7.1 percent. 
- An increase in South Governorate by 6.4 percent.
- An increase in Nabatieh Governorate by 1.5 percent.

Amidst Lebanon's persistent economic crisis, which has been haunting the nation since 2019, a significant Consumer Price Index (CPI) surge has emerged. This steep inflationary trend has dealt a heavy blow to the populace, sparking worries about their capacity to meet essential needs.