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.

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Somalia Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-10-18 09:00 AM Sep 7.2% 7.6% 7.4%
2022-11-16 09:00 AM Oct 6.9% 7.2% 7%
2022-12-15 09:00 AM Nov 6.9% 6.7%


Related Last Previous Unit Reference
Inflation Rate 6.90 7.20 percent Oct 2022
Consumer Price Index CPI 135.20 135.28 points Oct 2022
Inflation Rate MoM -0.60 0.40 percent Oct 2022
Food Inflation 15.04 16.10 percent Oct 2022
CPI Transportation 109.72 109.72 points Oct 2022
CPI Housing Utilities 122.28 122.28 points Oct 2022

Somalia Inflation Rate
In Somalia, the inflation rate measures a broad rise or fall in prices that consumers pay for a standard basket of goods. The most important categories in the Somali Consumer Price Index are: Food & Non-alcoholic Beverages (46% of the total weight) and Housing & Utilities (23%). Clothing & Footwear accounts for 5%, Health for 5%, Transport for 4%, and Furnishings, Households & Maintenance for 3%. Others include: Communications (3%), Tobacco & Narcotics (1%), and Recreation & Culture (1%).
Actual Previous Highest Lowest Dates Unit Frequency
6.90 7.20 216.00 -15.00 1961 - 2022 percent Monthly
Dec 2014=100

News Stream
Somalia Inflation Rate Slows for 3rd Month
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.
2022-11-16
Somalia Inflation Rate Slows for 2nd Month
The annual inflation rate in Somalia eased for the second month to 7.2% in September of 2022, from 7.6% in the previous month. It was the lowest reading since June, amid a slowdown in prices of food & non-alcoholic beverages (16.1% vs 16.7% in August) and housing & utilities (3.2% vs 5.1%). Concomitantly, prices decreased for tobacco & narcotics (-17.8% vs -19.6%), miscellaneous goods & services (-12.2% vs -12.3%), clothing & footwear (-4.8% vs -9.4%), furnishings & household equipment (-3.5%, the same pace as in August), transport (-0.7% vs flat reading), restaurants & hotels (-1.9%, the same pace as in August) and education (-0.6%, the same as in August). On a monthly basis. consume prices were up by 0.4%, after falling by 1.4% in the previous month.
2022-10-18
Somalia Inflation Rate Ticks Down to 7.6% in August
The annual inflation rate in Somalia fell marginally to 7.6% in August of 2022, from a near 20-year high of 7.7% in the previous month, amid a slight slowdown in prices of food & non-alcoholic beverages (16.7% vs 17.5% in July). Additionally, costs declined for alcoholic beverages & tobacco (-19.6% vs -36.1%); miscellaneous goods & services (-12.3%, the same pace as in July); clothing & footwear (-9.4% vs 2.5%); furnishings (-3.5%, the same pace as in July) and restaurants & hotels (-1.9%, the same pace as in July). On a monthly basis, consumer prices went down by 1.4%, reversing a 1.4% increase in the preceding month.
2022-09-28