On Monday morning in the Bab El-Ramel neighborhood in Tripoli, a man set himself on fire over the deteriorating living conditions in Lebanon.
Local media reported that he set himself on fire in protest of the dire conditions after he was no longer able to secure food for his family.
The man was rescued from the self-immolation attempt by the Islamic Medical Association and transfered to the Al-Salam Hospital in Tripoli which specializes in treating burns.
Prices of certain food items and goods have gone up 50% from just 10 days ago.
Food Prices vs. Exchange Rate
The sudden spike in food prices had reflected the rising exchange rate of the USD against the Lira. However, as the Lira gains value the prices of goods do not decrease.
The dollar has gone from 23,000 LBP to around 17,000 LBP with the anticipated appointment of Najib Mikati as PM-designate.
On Monday afternoon, caretaker Economy Minister Raoul Nehme urged the reduction of prices in line with the dropping USD exchange rate.
This came after observers from the Ministry of Economy raided importers’ warehouses demanding a reconsideration of prices.
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