Syria

Syria Country Office Market Price Watch Bulletin Issue 77, April 2021

Format
Situation Report
Source
Posted
Originally published
Origin
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Attachments

Highlights

○ The national average price of WFP’s standard reference food basket decreased between March and April 2021 by two percent, reaching SYP 176,471 (USD 71 at the official exchange rate of SYP 2,500/USD).

○ On 15 April 2021, the Central Bank devalued the Syrian pound from SYP 1,250/USD to SYP 2,500/USD. As a result of the devaluation, the informal Syrian pound rate strengthened by 26 percent, reaching SYP 3,146/USD leading the price of many food items to decrease.

○ In April 2021, the informal national average price of transport diesel skyrocketed by 48 percent compared to March 2021 reaching SYP 2,267/litre. The informal diesel price was 12 times higher than the formal diesel price (SYP 174/litre).

○ As a result of the fuel crisis in Syria, the Ministry of Internal Trade and Consumer Protection revised the price of Octane 95 petrol from SYP 1,300/litre to SYP 2,000/litre in March 2021 and further increased the price on 16 April, to reach SYP 2,500/litre.

○ For further information, please contact:

Jan Michiels at Jan.Michiels@wfp.org

Pakinam Moussa at Pakinam.Moussa@wfp.org