Lebanese Republic 
Minister of Economy chaired the meeting of the National Price Policy Council to discuss the prices’ hikes and the markets’ movement
Minister of Economy chaired the meeting of the National Price Policy Council to discuss the prices’ hikes and the markets’ movement
Minister of Economy and Trade, Dr. Amer Bisat chaired the meeting of the National Price Policy Council held for the first time since 2022 to discuss the latest developments of the prices’ movement in the Lebanese markets under the current circumstances.
The meeting was held to present the field data related to the prices’ movement during the last weeks; determine the most vulnerable sectors and goods, and analyze the internal and external factors affecting the price increase, including the situation of the supply chains and the profit margins in different distribution chains.
As for the current situation, discussions mainly tackled prices of vegetables and essential foodstuffs where it was agreed with the Ministry of Agriculture to tighten the markets’ control. It was also confirmed to adopt a preemptive approach for the markets’ control, namely in the light of the diesel price’ increase, while ensuring it has no negative impact on the prices unjustifiably.
On a broader level, discussions tackled the increase indicators in some sectors and basic services, including the rentals, hospitalization cost, school fees and others; provided that monitoring these developments should contribute in steering the inspectors’ work and increase the inspection campaigns in the markets.
It was also agreed that the Council meetings will be open, to be held on a weekly basis in order to keep up with the latest developments.
The meeting was attended by the Director General of the Central Administration of Statistics, the Council’ Vice President; Directors Generals, representatives of the Ministries of Economy, Finance, Industry, Agriculture and Tourism; Director of the Consumer Protection Directory at the Ministry of Economy; a delegate of the Banque du Liban; in addition to representatives of Chambers of Commerce and Industry; the Economic and Social Council; and representatives of the concerned Syndicates and Trade Unions.
