• The bulletin provides an independent assessment of consumer prices and inflation rates in all Syrian regions based on a monthly survey of consumer prices carried out by the Syrian Center for Policy Research (SCPR) since October 2020. The SCPR had developed a methodology for building a price index based on components of the consumer basket, weighting, and market selection (See SCPR’s Consumer Price Index in Syria) 
• In February 2025, the Consumer Price Index (CPI) experienced a month-on-month (M-o-M) decrease of 2.9 per cent. Despite this monthly decrease, the annual inflation rate, or year-on-year (Y-o-Y) inflation, reached 15.9 per cent in February 2025 compared to the same month in the previous year. This indicates that while there was a slight easing of prices within the month, overall, prices were significantly higher than a year prior. 
• A detailed breakdown of the CPI by consumption group reveals significant variations. Clothing and shoes prices fell by 8.8 per cent in February 2025 compared to January. This decline is attributed to several factors, including the influx of large quantities of European used clothing and the widespread availability of Turkish brands in the Syrian market. Additionally, the reduced liquidity among citizens, due to factors such as employees being furloughed and former military personnel and police officers being dismissed, led to a prioritization of food and basic necessities over clothing. 
• The Entertainment and Culture Group also saw a notable price decrease of 7.6 per cent in February 2025. This is largely due to the entry of foreign products with low customs duties and the pricing of these products in US dollars. For instance, the price of a 32-inch television screen reached SYP 1.2 million, and a laptop for an engineering student cost SYP 6 million. 
• The Housing, water, electricity, gas, and other fuels price index decreased by 4.6 per cent in February 2025. Rental prices fluctuated, declining in some areas and rising in others, depending on landlords’ liquidity and demand. In areas with limited demand from expatriates, rents decreased due to the decline in the US dollar against the Syrian pound and landlords’ need for cash. The Central Bank’s policy of withholding liquidity also played a role, limiting depositors’ ability to withdraw large amounts of Syrian pounds. Conversely, active areas like Damascus and its countryside saw an increase in rental prices due to higher demand, especially from new employees arriving from northern Syria. 
• Cement and building material prices also dropped due to the introduction of Turkish products. The average price of a 50-kg bag of cement fell to SYP 85,000 from SYP 96,000, and the price of white paint also decreased. The price of subsidized heating oil decreased due to its price being fixed in US dollars and the appreciation of the Syrian pound. Subsidized gas prices remained at SYP 160,000 per cylinder in transitional government areas and SYP 110,000 in Autonomous Administration (AA) areas. 
• Transportation group prices decreased by 3.9 per cent due to a decline in car prices, following a flood of used vehicles imported from various countries. The price of subsidized gasoline also decreased due to its pegging to the US dollar and the appreciation of the Syrian pound, reaching SYP 11,900 per liter in February 2025, compared to SYP 14,100 in January 2025. 
• Most Syrian governorates, excluding Idleb and Aleppo countryside, saw a decline in consumer commodity prices in February 2025, ranging from 0.4 to 5 per cent. Ar-Raqqa governorate had the highest decrease at 5 per cent, followed by Deir-Ezzor and Lattakia. Idleb governorate saw a 3.5 per cent increase in prices, while the Aleppo countryside, under the Syrian Interim Government (SIG), experienced a 4.7 per cent increase. The unified customs tariff and increased trade between Northern Syria and other regions influenced these variations. 
• February 2025 saw a significant improvement in the Syrian pound’s exchange rate against the US dollar in the unofficial market, with a 17.7 per cent appreciation. The average exchange rate reached SYP 9738 per USD in February 2025, compared to SYP 11830 per USD in January 2025. The official rate was lowered to SYP 13266 per USD. The Central Bank’s liquidity-retention policy and the transitional government’s suspension of salaries contributed to this appreciation. Money exchange companies relied on the parallel market rate, impacting the value of remittances. Meanwhile, the Turkish lira declined by 1.9 per cent in Northwestern Syria. 
• In February, the Food and Non-Alcoholic Beverages group significantly impacted the price index drop in autonomous regions. In areas under a caretaker government, housing, water, electricity, and gas contributed the most to the decline. In SIG & SSG areas, food and non-alcoholic beverages had the largest impact on monthly inflation. 
• The average monthly salary for university employees in the public sector was SYP 580,000 in February 2025, while private sector workers earned SYP 990,000, and civil sector employees earned SYP 2.16 million. Wages varied across control areas, with the highest in SIG & SSG zones and the lowest in caretaker government regions. The absolute poverty line for families was SYP 2.54 million, the lower poverty line was SYP 4 million, and the upper poverty line was SYP 5.5 million. Wage gaps from poverty lines were significant, especially for public sector employees. Civil sector workers in SIG & SSG areas earned wages above the abject poverty line, while those in caretaker government regions earned wages below it. 
• February 2025 saw a decline in inflation in Syria, driven by lower prices for many goods and services. The Syrian pound’s exchange rate improved, but wages remained insufficient to cover the poverty line, indicating the ongoing economic challenges facing Syrian families. Conditions varied across governorates, with some experiencing significant price declines while others saw increases.

Categories: Bulletins, February, Monthly Bulletins, Monthly Bulletins 2025, Publication

Tags: SCPR, Syria