Official rate of Inflation Rose above 5 Percent in November/ 5-3-2012
Syria Report
Syria’s official rate of inflation jumped to 5.75 percent in November from 3.25 percent a month earlier, on the back of a 9.45 percent rise in the price of food and beverages, according to the Central Bureau of Statistics.
November was the second month of last year during which inflation went above the 5 percent mark, the first time being the month of July. In September, annual inflation stood at 3.38 percent.
The small “surge” in November could be a consequence of the decline in the value of the Syrian Pound compared to other currencies, which increases the price of imported products. CBS does not provide an explanation yet.
Since the beginning of the political crisis gripping the country in mid-March of last year, the inflation rate has remained under relative control, partly helped by a decline in spending and the relative strength of the national currency.
The inflation rate measured by CBS refers to the official prices set by the State.