Damascus – SANA – The overall inflation rate in Syria during 2024 under the rule of the former regime amounted to 57.0%.
This figure is higher than the overall inflation rate in Lebanon, which was 45.5% , and lower than the overall inflation rate in Turkey, which was 58.6%for the same period.
According to an inflation indicators report published by the Central Bank of Syria (CBS) on its Telegram channel, the continued rise in prices in Syria during 2024 is attributed to inflationary pressures resulting from the high costs at that time.
This led to a decline in domestic demand for essential consumer goods due to a significant decrease in real income and a drop in purchasing power which affected the ability to secure basic daily needs and led to a decline in sales movements.
The annual inflation rate for December 2024 was 6.0%, which is significantly lower than the 135.0% recorded for the same period in 2023.
This decrease is explained by the post-liberation improvement in the exchange rate and a significant increase in the supply of goods and materials in the local market which led to a substantial decline in inflationary pressures.
For the first time, the monthly inflation rate for December 2024 recorded a negative rate of -13.8%, which is much lower than the rate of 0.1% for November.
This decrease is attributed to the significant drop in prices following the liberation, due to a major decrease in inflationary pressures in light of the substantial increase in the supply of goods and materials and improvement in the exchange rate.
Manar Salameh/Ruaa al-Jazaeri
