Monthly Bulletin for Consumer Price Index and Inflation in Syria – July 2024
5 minute read
Home / Publications / Bulletins / Monthly Bulletin for Consumer Price Index and Inflation in Syria – July 2024
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 July 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 July 2024, the general CPI achieved annual inflation (Y-o-Y) of 76.2 per cent and monthly inflation (M-o-M) of 1.7 per cent. The Entertainment and culture group recorded the highest monthly inflation rate in July 2024 at 3.7 per cent. The Tobacco group recorded a monthly inflation rate of 3.6 per cent.
-
In July 2024, Homs Governorate recorded the highest monthly inflation rate (M-o-M), at 3.9 per cent, followed by Deir Ezzor at 2.7 per cent, while As-Sweida achieved a decrease in the general price level by 0.8 per cent.
-
In July 2024, the Housing, water, electricity, gas, and other fuel oils group contributed significantly to the monthly inflation (M-o-M) with 1.7 per cent, making up 38.6 per cent of the total, followed by the group of Food and non-alcoholic beverages with a contribution of 27.7 per cent, trailed by the Transportation group at 10 per cent.
-
The inflation that occurred in July 2024 led to a decrease in the real wages of workers in the public sector in the GoS areas by 1.77 per cent compared to June 2024. Inflation also decreases the real wages of employees in the institutions of the AA areas by 1.8 per cent. The real wages of employees in the institutions of the SIG & SSG areas increased by 0.3 per cent.
-
In July 2024, the abject poverty line for families, serving as an indicator of food insecurity, rose to SYP 2.74 million per month, marking an increase of SYP 34 thousand from June 2024. The lower poverty line increased by SYP 54 thousand from the previous month to reach 4.31 million, while the upper poverty line saw an SYP 74 thousand increase, reaching 5.94 million.
-
In July 2024, the wage gap from the upper poverty line reached 76 per cent for university-educated employees in the public sector, 63.8 per cent for private sector workers, and 1.6 per cent for civil society workers. In all three instances.
Bulletins – Issue 7, July 2024
Monthly Bulletin for Consumer Price Index and Inflation in Syria
Click here to download the full bulletin:
Bulletins – Issue 7, July 2023
Monthly Bulletin for Consumer Price Index and Inflation in Syria
5 minute read
Download in English
Download in Arabic
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 July 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 July 2024, the general CPI achieved annual inflation (Y-o-Y) of 76.2 per cent and monthly inflation (M-o-M) of 1.7 per cent. The Entertainment and culture group recorded the highest monthly inflation rate in July 2024 at 3.7 per cent. The Tobacco group recorded a monthly inflation rate of 3.6 per cent.
-
In July 2024, Homs Governorate recorded the highest monthly inflation rate (M-o-M), at 3.9 per cent, followed by Deir Ezzor at 2.7 per cent, while As-Sweida achieved a decrease in the general price level by 0.8 per cent.
-
In July 2024, the Housing, water, electricity, gas, and other fuel oils group contributed significantly to the monthly inflation (M-o-M) with 1.7 per cent, making up 38.6 per cent of the total, followed by the group of Food and non-alcoholic beverages with a contribution of 27.7 per cent, trailed by the Transportation group at 10 per cent.
-
The inflation that occurred in July 2024 led to a decrease in the real wages of workers in the public sector in the GoS areas by 1.77 per cent compared to June 2024. Inflation also decreases the real wages of employees in the institutions of the AA areas by 1.8 per cent. The real wages of employees in the institutions of the SIG & SSG areas increased by 0.3 per cent.
-
In July 2024, the abject poverty line for families, serving as an indicator of food insecurity, rose to SYP 2.74 million per month, marking an increase of SYP 34 thousand from June 2024. The lower poverty line increased by SYP 54 thousand from the previous month to reach 4.31 million, while the upper poverty line saw an SYP 74 thousand increase, reaching 5.94 million.
-
In July 2024, the wage gap from the upper poverty line reached 76 per cent for university-educated employees in the public sector, 63.8 per cent for private sector workers, and 1.6 per cent for civil society workers. In all three instances.
