Recent data issued by the Central Bank of Libya showed a decline in inflation to 2.4 percent during the year 2023. According to the data, prices witnessed stability over the past year, with the exception of the months of January and February, which witnessed a rise in inflation to 3.8 percent.
The decrease during the index period included beverages, tobacco, clothing, transportation, and food commodities. As for hotel and restaurant prices, they witnessed a slight increase.
Inflation rates are considered safe as there is stability in prices within the market, according to central data. Libya imports 80 percent of its needs from abroad, and the value of documentary credits reached $12.5 billion in 2023.
Source (Al-Arabi Al-Jadeed newspaper, edited)
