Monthly Bulletin for Consumer Price Index and Inflation in Syria – April 2024
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Syrian Center for Policy Research:
The bulletin provides an independent assessment of consumer prices and the rate of inflation 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 consumer basket, weighting, and market selection (See SCPR’s Consumer Price Index in Syria)
This bulletin presents the findings of the monthly consumer price survey and the changes in the Consumer Price Index (CPI) for April 2024 (with 2021 as the base year) broken down by region and the major consumption groups. Based on the CPI changes, the bulletin provides an estimate of the cost of living and poverty lines at the local level in all Syrian regions.
The following results are highlighted:
- In April 2024, the general CPI achieved an annual inflation (Y-o-Y) of 119.3 per cent and a monthly inflation (M-o-M) of 1.9 per cent.
- Lattakia and Homs governorates recorded the highest monthly inflation rate (M-o-M) in March 2024, at 6.8 per cent and 5.9 per cent for each, respectively, followed by Daraa at 5.4 per cent, while Ar-Raqqa recorded the lowest monthly inflation rate at 0.1 per cent.
- The monthly inflation rate in all governorates ranged between 1 per cent and 3 per cent, except Damascus, which recorded a high monthly inflation rate with the advent of Eid al-Fitr, at 7.1 per cent, due to the rise in house rents, clothes, and shoes prices.
- In April 2024, the Housing, water, electricity, gas, and other fuel oils group contributed significantly to the monthly inflation M-o-M (with 2 per cent), making up 65.6 per cent of the total, followed by the Transportation group by 14.1 per cent, then the Clothes and shoes group by 6.7 per cent. The contribution of the Food and non-alcoholic beverages group to the monthly inflation for April 2024 was very low due to the decrease in the prices of legumes, vegetables, fruits, eggs, and cheese derivatives.
- The inflation that occurred in April 2024 led to a decrease in the real wages of workers in the public sector in the GoS areas by 2.2 per cent compared to March 2024. Inflation also led to a decrease in the real wages of employees in the institutions of the SIG & SSG areas by 1.9 per cent, and the AA areas increased by 1.4 per cent.
- In April 2024, the abject poverty line for families, serving as an indicator of food insecurity, rose to SYP 2.6 million per month, marking an increase of SYP 36 thousand from March 2024. The lower poverty line increased by SYP 57 thousand from the previous month to reach 4.1 million, while the upper poverty line saw an SYP 78 thousand increase, reaching 5.6 million.
- In April 2024, the wage gap from the upper poverty line reached 74.7 per cent for university-educated employees in the public sector, 65 per cent for private sector workers, and 1.3 per cent for civil society workers. In all three instances.
Bulletins – Issue 4, April 2024
Monthly Bulletin for Consumer Price Index and Inflation in Syria
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Bulletins – Issue 3, March 2024
Monthly Bulletin for Consumer Price Index and Inflation in Syria
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Syrian Center for Policy Research:
The bulletin provides an independent assessment of consumer prices and the rate of inflation 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 consumer basket, weighting, and market selection (See SCPR’s Consumer Price Index in Syria)
This bulletin presents the findings of the monthly consumer price survey and the changes in the Consumer Price Index (CPI) for April 2024 (with 2021 as the base year) broken down by region and the major consumption groups. Based on the CPI changes, the bulletin provides an estimate of the cost of living and poverty lines at the local level in all Syrian regions.
The following results are highlighted:
- In April 2024, the general CPI achieved an annual inflation (Y-o-Y) of 119.3 per cent and a monthly inflation (M-o-M) of 1.9 per cent.
- Lattakia and Homs governorates recorded the highest monthly inflation rate (M-o-M) in March 2024, at 6.8 per cent and 5.9 per cent for each, respectively, followed by Daraa at 5.4 per cent, while Ar-Raqqa recorded the lowest monthly inflation rate at 0.1 per cent.
- The monthly inflation rate in all governorates ranged between 1 per cent and 3 per cent, except Damascus, which recorded a high monthly inflation rate with the advent of Eid al-Fitr, at 7.1 per cent, due to the rise in house rents, clothes, and shoes prices.
- In April 2024, the Housing, water, electricity, gas, and other fuel oils group contributed significantly to the monthly inflation M-o-M (with 2 per cent), making up 65.6 per cent of the total, followed by the Transportation group by 14.1 per cent, then the Clothes and shoes group by 6.7 per cent. The contribution of the Food and non-alcoholic beverages group to the monthly inflation for April 2024 was very low due to the decrease in the prices of legumes, vegetables, fruits, eggs, and cheese derivatives.
- The inflation that occurred in April 2024 led to a decrease in the real wages of workers in the public sector in the GoS areas by 2.2 per cent compared to March 2024. Inflation also led to a decrease in the real wages of employees in the institutions of the SIG & SSG areas by 1.9 per cent, and the AA areas increased by 1.4 per cent.
- In April 2024, the abject poverty line for families, serving as an indicator of food insecurity, rose to SYP 2.6 million per month, marking an increase of SYP 36 thousand from March 2024. The lower poverty line increased by SYP 57 thousand from the previous month to reach 4.1 million, while the upper poverty line saw an SYP 78 thousand increase, reaching 5.6 million.
- In April 2024, the wage gap from the upper poverty line reached 74.7 per cent for university-educated employees in the public sector, 65 per cent for private sector workers, and 1.3 per cent for civil society workers. In all three instances.
