Beirut ranked sixth in the Middle East and ranked 121st globally in the cost of living, according to the "Expatistan" website.
This website compares the cost of living among the countries, depending on the prices of food, namely milk, chicken, bread, rice, as well as housing, internet service, clothing, transportation, services, personal care products and entertainment activities.
In this regard, the economic expert Dr. Eli Yashoui highlighted the fact that "in Lebanon there are only vertical demands, and that the persons behind the process of inflation in Lebanon have been the same for a long time; they are 5 or 7% of the population and own 80% of the money and bank deposits ".
He spoke about how to determine the prices in any country, by the raising in some prices, and then probing the number of demands, if the number regress, then the traders seek to reduce the prices, otherwise, if the number of demands is high despite its high cost, the price stays determined by that price. However, this constitutes a big problem for the low-income earners.
Moreover, he pointed out that one of the most important reasons for the high prices in Beirut is the presence of a social class that gathered their fortune illagally, whether from the public sector or from the private sector and this category is the main reason behind rise of prices, in Beirut.
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