SAWT BEIRUT INTERNATIONAL

| 30 May 2024, Thursday |

Commodity prices are expected to grow by 25-30%

The Head of the Syndicate of Supermarket Owners, Nabil Fahed, confirmed that “the rise in the dollar exchange rate will affect the prices of goods,” adding that “while we cannot know the exact percentage of price increases due to supplier regulations, it is expected that prices will rise by 25 to 30 percent.”

“Because commodities are related to the costs of transportation, electricity, and generators, the predicted increase in fuel prices will also lead to an increase in the prices of commodities,” Fahed explained.

In light of the loss of the most basic necessities of life and the fears felt by the Lebanese as the prices of the most vital and basic materials continue to rise, and in conjunction with the red zone that the dollar’s black market exchange rate has reached, Lebanon appeared in the last two days to be the closest to the danger of an unprecedented societal collapse. Extremely dangerous anarchy ensued, with key routes in all locations extensively restricted and warnings of the expansion, if not explosion, of protest movements.

Despite the fact that this moment was foreseen and anticipated, officials in Lebanon are still battling over profits, chairs, and shares.

 

    Source:
  • Sawt Beirut International