Country Report Syria February 2011

Economic performance: Inflation accelerates in final quarter of 2010

The consumer price index rose by 3.3% in the final quarter of 2010, bringing year-on-year inflation for the year as a whole to 6.9%, according to figures from the Central Bureau of Statistics. The main reason for this inflationary surge was a sharp increase in the food and beverages index, which rose by 6.2% in the final quarter and by 12.3% over the entire year. Food and beverages has a 41.8% weighting in the index, which was recently rebased to 2005. The government has made a serious effort to improve its data reporting, and this has been particularly noticeable in the promptness of the latest release of the inflation index.

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