3 Hrs
Source:
الكتائب اللبنانية
Grocery costs continue to rise
The rise in global oil prices, especially with the renewed tensions between the United States and Iran and the barrel price exceeding $94, has led to an increase in the prices of food and petrochemical products in Lebanon, ranging between 2% and 10% during March and April, with a relatively stable trend in the following weeks. At the same time, prices experienced a slight monthly decline of 1.5% between April and May. Experts confirmed that prices are unlikely to change significantly at present unless a major shock occurs, such as the barrel price surpassing $115–120 or disruptions to maritime shipping through the Red Sea. They also pointed out that weak demand and declining sales amid inflation and limited purchasing power restrict price increases, while the slowdown in reductions in emerging countries is due to weak competition and regulatory oversight.
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