Libya: Speculation before Ramadan and weak oversight are raising food prices to percentages that may reach 25%

Economic analyst Tariq Al-Sarmany discussed market conditions. He stated Libyan markets usually see price speculation before Ramadan. This is due to high consumer demand. He explained weak oversight and market regulation contribute to rapid price increases.

Al-Sarmany provided special statements to the Qatari website Al-Araby Al-Jadeed. He estimated food price increases could reach about 25% this year. This compares to the same period last year. He warned that ongoing inflationary pressures…