The annual inflation rate in Somalia eased for the third month to 6.9% in October of 2022, from 7.2% in the previous month. It was the lowest reading since May, as prices slowed further for food & non-alcoholic beverages (15% vs 16.1% in September) and inflation remained steady for housing & utilities (at 3.2%). Additionally, prices continued to decrease for miscellaneous goods & services (-12.4% vs -12.2%); clothing & footwear (-4.6% vs -4.8%); furnishings & household equipment (-3.5%, the same pace as in September); transport (-1.5% vs -0.7%); restaurants & hotels (-1.9%, the same pace as in September). On a monthly basis, consumer prices edged down by 0.1%, after increasing by 0.4% in the previous month. source: Directorate of National Statistics, Somalia
Inflation Rate in Somalia averaged 13.04 percent from 1961 until 2022, reaching an all time high of 216.00 percent in December of 1990 and a record low of -15.00 percent in December of 2010. This page provides - Somalia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Somalia Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2022.
Inflation Rate in Somalia is expected to be 6.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Somalia Inflation Rate is projected to trend around 4.30 percent in 2023 and 5.00 percent in 2024, according to our econometric models.