August 03, 2021
Lebanon's economic implosion and currency crisis have caused food prices to surge. Lebanon imports around 80 percent of the food it consumes, and so the sharp depreciation of the lira vs the US dollar has made some staples five times more expensive than when the economic crisis first hit in October 2019. This year's Ramadan was very painful for many Lebanese, as the cost of an Iftar meal — which Muslims break their fast with each day — has increased a whopping 300 percent in just two years. We take a look at how food prices have risen as a result of the plunging value of Lebanon's currency over the last 15 months.
More For You
Most Popular
Think you know what's going on around the world? Here's your chance to prove it.
QatarEnergy's liquefied natural gas production facilities, amid the US-Israeli conflict with Iran, in Ras Laffan Industrial City, Qatar, on March 2, 2026.
REUTERS/Stringer
The US-Israeli war with Iran has badly damaged oil & gas producers in the Gulf and consumers in the Indo-Pacific. But not all countries within those regions will feel the pain equally.
A Russian LNG tanker, Arctic Metagaz, damaged earlier this month and currently adrift without crew, floats in international waters in the Mediterranean Sea between Malta and the Italian islands of Lampedusa and Linosa, in this handout picture released on March 13, 2026.
Marina Militare/Handout via REUTERS
700: The tons of fuel and liquefied natural gas aboard a Russian tanker that is currently floating around the Mediterranean Sea unmanned, after a drone attack earlier this month prompted the crew to abandon ship.
© 2025 GZERO Media. All Rights Reserved | A Eurasia Group media company.