Recent data from the Central Bank of Libya show that consumer inflation rose to 2.7% in September, up from 2.5% in August. This increase reflects growing inflationary pressures in several vital sectors, particularly food and beverages, which saw a 0.5% rise, bringing the index to 354.3 points.
The World Bank had previously forecast that inflation in Libya would stabilise at 2.4% in 2024 and 2025, driven by lower global commodity prices and progress towards the full reunification of the Central Bank.
Among the sectors experiencing inflation, clothing and footwear recorded a slight increase of 0.5%, with the index reaching 456.4 points, reflecting rising raw material and shipping costs.
Meanwhile, the housing, water, electricity, and gas sector remained stable at 195.6 points, thanks to government efforts to control fuel and electricity prices. The demand for furniture and household appliances also pushed their index up by 0.3% to 218.4 points.
The transport sector saw a notable increase, with its index reaching 383.0 points, rising by 1.0%. This surge is linked to higher fuel prices and disruptions in global supply chains. Similarly, the healthcare sector experienced a 0.3% rise, bringing its index to 218.4 points, driven by increased medical service and drug costs. However, the education sector remained stable at 351.2 points, reflecting consistent tuition fees at the start of the new academic year.
Libya’s Consumer Price Index (CPI) measures changes in the prices of various goods and services over time, covering 12 key categories, including food, housing, healthcare, education, and transportation.
The Central Bank of Libya also reported that inflation had fallen to 2.4% in 2023, with prices showing stability throughout the past year.
