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Syria: Central Bureau of Statistics Releases Annual Inflation Report for 2020

In 2020, annual inflation for overall goods reached 163.1 percent compared with 2019, according to al-Watan.
Syria Central Bureau of Statistics Releases Annual Inflation Report for 2020
Syria: Central Bureau of Statistics Releases Annual Inflation Report for 2020

In 2020, annual inflation for overall goods reached 163.1 percent compared with 2019, according to a report by the Central Bureau of Statistics (CBS).

In detail, the largest annual inflation in 2020 compared with 2019 was found in the restaurant and hotel sector, where it reached 526.2 percent. This was followed by mineral water, moisturizing beverages and fruit juice, with annual inflation of 249.4 percent. Next came goods and services used in home maintenance operations, with annual inflation reaching 230.3 percent. Then came non-alcoholic beverages, with annual inflation of 224.9 percent; tobacco reached annual inflation of 223.1 percent; inflation for alcoholic beverages and tobacco hit 220.4 percent. After these came coffee, tea and cocoa (217.9 percent); fruits (205.4 percent); milk, cheese, and eggs (199.7 percent); and oils and fats (198 percent).

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According to CBS, annual inflation for household and domestic maintenance equipment reached 194.6 percent, followed by bread and cereals (178 percent). Of the figures mentioned in the report, annual inflation for shoes was 159.9 percent; furniture, equipment, carpets, and other ground furnishings was 147.5 percent; fish and seafood was 143.2 percent; pulses and vegetables was 140.5 percent; meat was 139.2 percent, health sector costs were 132.9 percent; transportation costs were 103.4 percent; expenses for housing, water, electricity, gas, and other fuels inflated by 46.7 percent; education costs rose by 42.8 percent; communications by 39.5 percent, and housing rents by 13.2 percent.

Annual inflation for food costs was 169.5 percent.

According to bureau zero, the water supply and the various services related to housing, according to the bureau, had annual inflation of zero

University doctor and former CBS director Shafiq Arbash described the report as logical. They noted that, for most goods needed by Syrians, inflation has doubled prices.

Arbash said that the 2020 statistical figures no longer hold any relevance, especially since inflation that affected the sectors during 2021 — according to estimates — had exceeded 100 percent, compared to 2020. This trend began following the start of global markets to reverse COVID-19 lockdowns, which impacted commodity prices and freight costs in all economic sectors, as well as the government’s decision to raise the prices of oil derivatives. These developments were reflected across the economy and the price of goods in general.

 

This article was translated and edited by The Syrian Observer. The Syrian Observer has not verified the content of this story. Responsibility for the information and views set out in this article lies entirely with the author.

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