Research and statistics Department in the Central Bank of Libya published today the report on inflation for the month of May 2023
Data released by the Bureau of Statistics and Census – Ministry of Planning indicate that the consumer price index increased by 7.3 points on an annual basis during May 2023 to record 295.2 points, compared to 287.9 points during the same month of 2022, which means that the inflation rate reached (2.5%). Hence, on a monthly basis, the inflation rate increased by(0.1%) in May, compared with that of April2023.
First: Analysis on an annual basis:
The inflation rate during May 2023 increased by 2.5% (on an annual basis) in all commodity groups except for the communication group, the most prominent of which was as follows:
– The prices of increased food groups by 3.8%.
– The prices of other goods and servicesincreased by 2.5%.
– The prices of the transportation groupincreased by 2.4%.
– The prices of clothing and shoes groupincreased by 2.4%.
– The prices of health group increased by 2.3%
– The prices of the furniture and household equipment group increased by 1.7%.
Second: Analysis on a monthly basis:
The inflation rate during May 2023 increased by 0.1% (on a monthly basis), which was due to the slight rise in some commodity groups, which were as follows:
– The prices of food groups increased by 0.1%.
– The prices of health groups increased by 0.1%.
– The prices of Housing, Water, Electricity, Gas, and other Fuel increased by 0.1%.
