Executive Summary

• Syria’s Consumer Price Index (CPI) declined by 1.9 per cent in July 2026 compared with June, falling from 1010 to 991 points. This decline reflected lower prices in five consumption groups, most notably tobacco, transport, housing, water, electricity, gas and other fuels, and food and non-alcoholic beverages, against increases in six groups. The decline did not, however, represent a general improvement in living conditions: the overall price level remained 24.8 per cent higher than in July 2025 and was nearly ten times its level in the 2021 base year.
• July was marked by a widening gap between official prices and the actual cost of obtaining goods and services. Lower official prices for some petroleum products and the appreciation of the SYP helped reduce the transport and energy indices. However, persistent supply shortages, congestion at fuel stations and high black-market prices limited the extent to which these declines translated into lower transport, production and service costs. Al-Hasakeh provided the clearest example, as shortages of subsidised diesel for public services continued to disrupt generators, bakeries, mills, water stations and local transport.
• The month also revealed a clear divergence between falling prices for pulses, vegetables and some imported goods, on the one hand, and rising prices for meat, milk and dairy products, on the other. This suggests that food-price deflation was driven mainly by seasonal factors or lower prices for certain imports, rather than by a structural improvement in food security or household purchasing power.
• The decline in the transport and energy indices did not reflect genuine stability in the fuel market. Repeated adjustments to official prices coincided with persistent supply shortages, congestion at fuel stations and high black-market prices. The effects were particularly severe in Al-Hasakeh, where shortages of subsidised diesel for public services disrupted generators, bakeries, mills, water stations and local transport, limiting the effect of official price reductions on production and service costs.
• On the monetary front, the Syrian Pound (SYP) appreciated in the parallel market: the average United States Dollar (USD) exchange rate fell from approximately SYP 14001 in June to SYP 13215 in July, while the official rate remained at SYP 12250, narrowing the gap between the two rates to about 7.9 per cent. Nevertheless, the stronger exchange rate did not eliminate price disparities across governorates, particularly in transport, housing and energy, where prices remained closely linked to fuel availability, pricing arrangements and local operating costs.

Categories: Bulletins, July, Monthly Bulletins, Monthly Bulletins 2026, Publication

Tags: July, Monthly Bulletin on Consumer Prices and Inflation in Syria, SCPR, Syria