Syria + 1 more

Syria Country Office Market Price Watch Bulletin Issue 89, April 2022

Attachments

Highlights

  • From February to April, the national average price of WFP’s standard reference food basket increased by 37 percent (eight percent compared with March 2022, and 84 percent compared with April 2021) reaching SYP 321,994 (USD 114.4 at the official exchange rate of SYP 2,814/USD). ○ FAO’s Global Food Price Index averaged 158.5 points in April 2022, down 1.2 points (0.8 percent) from the alltime record high reached in March, though still 36.4 points higher than the same month last year (29.8 percent y-oy) .

  • The Minimum Expenditure Basket in Syria (HCT) covering 28 commodities, 20 of which food items, increased by 11 percent m-o-m and by 64 percent since September 2021.

  • Conflict in Ukraine continued to impact global economies. In April 2022, Grain and Oilseeds freight index rose by 3.4 percent (m-o-m) and 25 percent compared to February 2022. Inflation reached 8.3 percent in the USA, 7.1 percent in the Euro-area, 69.9 percent in Turkey and 206 percent in Lebanon. ○ In April 2022, the Central Bank of Syria officially devaluated the national currency, setting the formal exchange rate to 2,814 SYP for 1 US Dollar. Informal exchange rate stabilised around 3,884 SYP for one US dollar.