Syria Country Office Market Price Watch Bulletin Number 86, January 2022 – Syrian Arab Republic

  • In January, the national average price of the WFP standard reference food basket increased by two percent compared to December 2021, reaching SYP 225,398 (USD 90 at the official exchange rate of SYP 2,500/USD). This is the fifth consecutive month of the highest average price ever recorded since monitoring began (2013).

  • The annual FAO Food Price Index for 2021 reached 125.7 points, approaching its all-time high of 131.9 points in 2011. The FAO Food Price Index for January 2022 was 135 .7 points, increasing 1.1 points from December 2021.

  • WFP’s minimum expenditure basket in Syria, which covers 28 staples, 20 of which are food, increased 4.8 percent month-on-month and 18.1 percent from September 2021.

  • In January 2022, the national average wage for unskilled labor, which represents construction, unloading and agricultural labor, was recorded at SYP 9,557/day (an increase of 11% per month) below the price every of goods in Syria.

  • In January 2022, the informal exchange rate of the Syrian pound weakened by 1 percent, reaching SYP 3,586/USD. The informal exchange rate of the Syrian pound has depreciated by 19% since January 2021. The official exchange rate is SYP 2,500/USD.

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