The first official devaluation of the Lebanese currency in a quarter century sent consumer prices higher in March, with food and beverage inflation exceeding 350 percent annually as authorities struggle to contain the collapse in the world's worst-performing currency this year.
A decision in February to allow the Lebanese pound to double by 90 percent ended last year's relative calm from rising costs in Lebanon, whose economy collapsed and forced the government to default on $30 billion in international debt in 2020.
This comes after inflation rose in February, reaching 264 percent annually in March, more than doubling since the end of last year, according to data from the official Central Administration of Statistics.
Source (Al-Arabiya.net Website, Edited)
