Monthly Bulletin for Consumer Price Index and Inflation in Syria – June 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 May 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 June 2024, the general CPI achieved annual inflation (Y-o-Y) of 108.5 per cent and monthly inflation (M-o-M) of 1.5 per cent.
- Dara’a Governorate recorded the highest monthly inflation rate (M-o-M) in June 2024, at 3.6 per cent, followed by Lattakia at 2.8 per cent, and the monthly inflation rate in the rest of governorates ranged between 0.6 per cent and 1.8 per cent during June 2024 compared to May 2024.
- In June 2024, the Food and non-alcoholic beverages group contributed significantly to the monthly inflation (M-o-M) with 1.5 per cent, making up 38.5 per cent of the total, followed by the Housing, water, electricity, gas, and other fuel oils group of with a contribution of 26.7 per cent, trailed by the Transportation group at 11.2 per cent. Then the Tobacco group at 7.3 per cent.
- The inflation that occurred in June 2024 led to a decrease in the real wages of workers in the public sector in the GoS areas by 1.8 per cent compared to May 2024. Inflation also led to a decrease in the real wages of employees in the institutions of the AA areas by 0.6 per cent, the real wages of employees in the institutions of the SIG & SSG areas increased by 1.1 per cent.
- In June 2024, the abject poverty line for families, serving as an indicator of food insecurity, rose to SYP 2.7 million per month, marking an increase of SYP 52 thousand from May 2024. The lower poverty line increased by SYP 82 thousand from the previous month to reach 4.25 million, while the upper poverty line saw an SYP 113 thousand increase, reaching 5.87 million.
- In June 2024, the wage gap from the upper poverty line reached 75.7 per cent for university-educated employees in the public sector, 64 per cent for private sector workers, and 2.7 per cent for civil society workers. In all three instances.
Bulletins – Issue 6, June 2024
Monthly Bulletin for Consumer Price Index and Inflation in Syria
Click here to download the full bulletin:
Bulletins – Issue 6, June 2024
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 May 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 June 2024, the general CPI achieved annual inflation (Y-o-Y) of 108.5 per cent and monthly inflation (M-o-M) of 1.5 per cent.
- Dara’a Governorate recorded the highest monthly inflation rate (M-o-M) in June 2024, at 3.6 per cent, followed by Lattakia at 2.8 per cent, and the monthly inflation rate in the rest of governorates ranged between 0.6 per cent and 1.8 per cent during June 2024 compared to May 2024.
- In June 2024, the Food and non-alcoholic beverages group contributed significantly to the monthly inflation (M-o-M) with 1.5 per cent, making up 38.5 per cent of the total, followed by the Housing, water, electricity, gas, and other fuel oils group of with a contribution of 26.7 per cent, trailed by the Transportation group at 11.2 per cent. Then the Tobacco group at 7.3 per cent.
- The inflation that occurred in June 2024 led to a decrease in the real wages of workers in the public sector in the GoS areas by 1.8 per cent compared to May 2024. Inflation also led to a decrease in the real wages of employees in the institutions of the AA areas by 0.6 per cent, the real wages of employees in the institutions of the SIG & SSG areas increased by 1.1 per cent.
- In June 2024, the abject poverty line for families, serving as an indicator of food insecurity, rose to SYP 2.7 million per month, marking an increase of SYP 52 thousand from May 2024. The lower poverty line increased by SYP 82 thousand from the previous month to reach 4.25 million, while the upper poverty line saw an SYP 113 thousand increase, reaching 5.87 million.
- In June 2024, the wage gap from the upper poverty line reached 75.7 per cent for university-educated employees in the public sector, 64 per cent for private sector workers, and 2.7 per cent for civil society workers. In all three instances.
