A report has been circulating on social media that the price of bread in Lebanon will spike this week.
Claim: The price of bread in Lebanon will go up by LBP 750 – LBP 1,500, reaching between LBP 5,000 and LBP 6,000, in the next few days.
Verdict: False. The claim has been denied.
Ali Ibrahim, head of the Syndicate of Bakery Owners in Lebanon, has repudiated the report that bread prices would see such a jump.
He affirmed to the National News Agency that the claim is “completely incorrect,” adding that it aims at straining the atmosphere in Lebanon, “especially since bread is a rich topic for circulation as it is one of the basic needs of the citizen and concerns all citizens, especially the needy and those of middle income.”
After selling at LBP 1,500 for many years, the price of the standard bundle of Lebanese bread is now being sold at LBP 4,250, a price that is nonetheless expected to continue rising with the unabated depreciation of the Lebanese pound.