| 23 April 2024, Tuesday |

With living crisis worsening, Have we entered hyperinflation phase?

Director of Crisis Observatory at the American University, Nasser Yassin, pointed out that recently there is a shortage in good news, and a significant deterioration in Lebanese purchasing power and said: “We have entered hyperinflation phase.”

In an interview via Voice of Lebanon 100.5, Yassin said: “Basic commodities’ prices are soaring like crazy, such as labneh, eggs, cheese and vegetables, and it has risen by 50% in a month. We will reach days when we may see a radical change in prices, and this is a cycle that is difficult to get out of in the absence of rescue solutions.”

He continued, “The financing card was supposed to be an organized rationalize support option, to help put an end to the parallel market, but the government is not serious about how to deal with people’s living and vital affairs.”

Yassin added: “There is no real ceiling for the dollar exchange rate because of the course Lebanon is following, for there is no real rescue and recovery plan in the absence of negotiation with the International Monetary Fund, and the more the monetary mass increases, the more the demand for the dollar increases, the more the inflation increases, and these negative indicators, lead to Killing the Lebanese purchasing power.”