First Published: 2009-07-30

Libyan inflation plunges to one percent in June

Inflation fall in six months to June is due to sharp decrease of consumer prices due to global credit crunch.


Middle East Online

Sharp decline of the inflation rate

TRIPOLI - The inflation rate in Libya plunged to one percent in June from 12.4 percent a year earlier amid the global credit crunch, the Central Bank of Libya announced on Thursday.

Libya imports around 90 percent of its food and other supplies, notably from Europe, where consumer prices have fallen sharply this year.

In the six months to June, the rise in Libyan prices slowed to 4.15 percent from 11.5 percent in the year-earlier period, the CBL said.

Inflation soared in Libya in 2008, peaking at 12.9 percent in July last year amid sharp increases in housing costs and food prices.

Libya had a negative inflation rate at the end of the 1990s but demand for consumer goods grew rapidly following the lifting of the UN embargo, in place from 1992 to 2003.


At least 235 killed in Egypt mosque attack

Saudi Crown Prince calls Iran supreme leader 'new Hitler'

Syrian opposition agrees to send united delegation to Geneva talks

Saudi-led coalition clears passenger flights to Sanaa

Baghdad's Shabandar cafe marks century since opening

Turkey says Trump pledged to stop arming Kurds

Turkey president sues main opposition party leader

Lebanon's Hariri brings status quo back with him

Activists say 'everybody knew' about Libya slave trade

Erdogan says no contact 'at the moment' with Assad

Lebanon's Jumblatt criticises Saudi Arabia, Iran

China says it will make efforts on Syria reconstruction

Turkey to detain 79 former teachers in post-coup probe

Hezbollah hails PM's suspension of resignation

Syrian opposition aims for unity at talks in Riyadh

Egypt police kill 3 Islamists in shootout

Turkey unsure if Assad to be part of Syria political transition

Migrant arrivals from Libya down since EU deal

Palestinian factions leave Cairo talks with little progress

Sudan’s Bashir looks to Putin for ‘protection’ from US aggression

China, Djibouti forge 'strategic' ties

IS propaganda channels fall quiet in 'unprecedented' hiatus

Kremlin to create Syria congress despite Turkey ‘reservations’

Netanyahu berates deputy minister for 'offensive' remarks on US Jews

Egypt PM heads to Germany for medical treatment

Egypt destroys 10 SUVs carrying arms on Libya border

Outrage in Iraq over 'child marriage' bill

Iraq launches operation to clear last IS holdouts from desert

Saudi-led coalition to reopen Yemen airport, port to aid

Turkey court rules to keep Amnesty chief in jail

France calls for UN meeting on Libya slave-trading

Egypt detains 29 for allegedly spying for Turkey

WTO panel to hear Qatar’s complaint against UAE blockade

Three dead as diphtheria spreads in Yemen

Lebanon’s Hariri suspends resignation

Israel seizes explosive material at Gaza border

Activists call for release of UK journalist held by IS

Bahrain upholds jail sentence for activist

Iraq attacks at lowest since 2014

Turkey continues crackdown in post-coup probe

Hariri back in Lebanon

Putin to hold Syria peace talks with Erdogan, Rouhani

US carries out air strikes against IS in Libya

Divided Syria opposition meets in Riyadh

Lebanon's Hariri in Egypt ahead of return home