The Central Bank of Libya (CBL) has reported an increase in the inflation rate in Libya during the first quarter of this year, on an annual basis, in some commodity groups.

The CBL Research and Statistics Department said in its economic bulletin for the first quarter, that the general consumer price index rose to record 293 points, an increase of more than eight points compared with the past year in the same period.

Regarding the money supply, the bulletin recorded an increase in the money supply, or what is known as local liquidity, for the first quarter, which amounted to more than 114 billion, while demand deposits in the bank amounted to 1.1 billion Libyan dinars.

The bank attributed the reason for the increase in local liquidity to the rise in the currency circulating outside the banking sector, which recorded 2.6 billion dinars, in addition to demand deposits, according to the CBL bulletin.