Lebanon’s Annual Inflation Rate Soars To 510%
Beirut.com- Hanke | July 2, 2020
According to American applied economist at the Johns Hopkins University in Baltimore, Professor Steve Hanke, Lebanon’s annual inflation has soared to a “stunning” 510%.
Hanke asserts that (by his calculations) the beginning of June 2020 saw an inflation percentage of 171%/year, before it rose to 510%/year just yesterday, effectively translating into a 339 percentage point change in one month only. This rate is both shocking and deeply worrying.
While news like this has become somewhat expected considering the economic woes we encounter on a daily basis, we can only wonder when it will all end.