Inflation deepens Syrians’ hardship; widens social inequality

Syria is experiencing a new wave of economic pressure amid the ongoing decline in the value of the Syrian pound and rising prices of fuel, essential goods, and customs fees. These developments are placing additional burdens on citizens and pushing more families into poverty, while widening the gap between low-income groups and those benefiting most from the current economic environment.

Syrian markets have witnessed consecutive price increases as the exchange rate of the U.S. dollar surpassed 14,300 Syrian pounds. The price of a gas cylinder has risen to 177,500 Syrian pounds, while diesel now costs 15,620 pounds per liter, directly impacting the prices of goods and services across the country.

The price of sugar ranges between 8,500 and 15,000 Syrian pounds per kilogram, while rice sells for between 10,000 and 27,000 pounds depending on quality and type. Coffee exceeds 175,000 pounds per kilogram, and tea ranges between 125,000 and 170,000 pounds per kilogram.

Vegetable oil is sold for approximately 25,000 to 28,000 Syrian pounds per liter, while vegetable ghee ranges between 25,000 and 40,000 pounds per kilogram.

Among legumes, dry beans cost around 20,000 Syrian pounds per kilogram or more, depending on quality and variety.

In the vegetable market, tomatoes sell for around 15,000 pounds per kilogram, while eggplants range between 5,000 and 7,000 pounds per kilogram. Prices continue to fluctuate due to exchange-rate movements, transportation costs, and fuel prices, making the provision of basic food needs an increasing burden for most Syrian households.

In this context, 80-year-old minibus driver Qasim Al-Ka‘akah said he had been forced to return to work despite his advanced age because he lacks any source of income sufficient to support his family.

Speaking to ANHA's agency, he explained that he works eight hours a day for a wage of 100,000 Syrian pounds to cover household expenses and pay for medication for himself and his wife, adding: “For us, death has become a mercy.”

Meanwhile, merchant Abu Omar, who operates a shop in the Barzeh Housing Market in Damascus and has displayed a sign reading, “Credit is prohibited, especially for relatives and neighbors,” said that prices are rising almost daily and that traders rely on market exchange-rate bulletins rather than the official exchange rate when setting prices.

Abu Omar explained that his decision to stop selling on credit was driven by the accumulation of large unpaid debts from customers, whose value continues to erode as inflation accelerates and the purchasing power of the local currency declines. He added that while he understands the difficult living conditions facing residents, continuing to sell on credit would only increase his financial losses.

He also noted that many traders have begun pricing their goods based on an exchange rate of 20,000 Syrian pounds per U.S. dollar rather than the rates published in daily market bulletins, reflecting expectations of further depreciation of the Syrian pound in the coming period.

Assessing the economic situation, economist Ghayth Moayyad stated that the cost of living for a Syrian family of five increased by more than 30 percent during June due to rising housing costs, higher fuel prices, the depreciation of the Syrian pound, and merchants’ practice of pricing goods according to exchange rates above official levels as a hedge against market volatility following the implementation of Customs Decision No. 110.

The economist explained that the minimum monthly requirements for a Syrian family of five with no chronic illnesses among its members now exceed seven million Syrian pounds to cover basic necessities such as food, beverages, and rent. According to his assessment, “more than 90 percent of Syrians are unable to secure this amount.”

He added that poverty indicators in Syria have surpassed previous estimates that suggested around 85 percent of the population lived below the poverty line. Average daily income per person, he said, no longer reaches three U.S. dollars amid the current inflationary wave, which he attributes to the injection of additional liquidity into markets without corresponding growth in productive economic activity.

Moayyad further noted that the current economic reality has deepened social divisions, creating a stark contrast between a small segment that benefits from influence and power and can afford luxury cars, tourism, and upscale restaurants, and a much larger segment of Syrians struggling to meet their most basic needs, including the purchase of a loaf of bread.

ANHA