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Lebanon Faces Hyperinflation as Prices Skyrocket

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The Caspian Times is a platform that showcases stories and perspectives from across Eurasia. We aim to inform, inspire and empower our readers with high-quality journalism that covers the diverse and dynamic region.

Lebanon is experiencing a severe economic crisis that has pushed the country into hyperinflation, the first in the Middle East and North Africa region. The annual inflation rate reached 264% in March 2023, the highest since comparable records began in 2008, according to the Central Administration of Statistics. The prices of food and non-alcoholic beverages, which account for 20% of the consumer price index, soared by 352% in March, making basic necessities unaffordable for many Lebanese.

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