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INTRODUCTION
In an effort to inform cash-based interventions and better understand market dynamics in Libya, the Joint Market Monitoring Initiative (JMMI) was created by the Libya Cash Working Group (CWG) in June 2017. The initiative is guided by the CWG Markets Taskforce, led by REACH and supported by the CWG members. It is funded by OFDA and UNHCR.
Markets in key urban areas across Libya are assessed on a monthly basis. In each location, field teams record prices and availability of basic food and non-food items (NFI) sold in local shops and markets.
This factsheet presents an overview of price ranges and medians for key food items and NFIs in the assessed areas, as well as the costs associated with key elements of the Minimum Expenditure Basket (MEB).
KEY FINDINGS
• In February, the US dollar and the Euro continued to depreciate against the Libyan dinar (LYD) on the parallel market, by -0.9% and -0.6% respectively, a smaller appreciation of the LYD than the previous month.
• With a decrease of 1.9%, the Minimum Expenditure Basket (MEB) was nearly 15 LYD less expensive than in January, reaching a median cost of 766.06 LYD in February. The decrease of the median cost of the MEB was notably driven by lower median prices of hygiene items (-5.1%) and cooking fuel (-18.2%) across Libya.
• While the median cost of the MEB decreased in all the three regions, the decrease was greater in the East (-8.6%) and the South (-8.3%) than in the West (-3.4%). To alleviate the liquidity crisis in the South, the parallel Albayda-based Central Bank of Libya supplied banks with cash at the end of January, which may explain the decrease in prices in the region.
• Between January and February, all southern and eastern assessed cities recorded a decrease of the median cost of the MEB. However, the figures do not include median prices in Murzuq and Derna, as shops were closed due to clashes between armed actors at the time of the data collection. According to key informants in Murzuq, many shops were closed and shortages were reported, notably of bread. Additionally, due to closure of roads, supply chains from Sebha to Murzuq were strongly disrupted, which led to increased prices for some items, including higher transport costs through Ubari.
• Across Libya, the median price of nearly half of the monitored items such as bread, flour, milk, potatoes and couscous remained unchanged between January and February.