The annual inflation rate in Somalia rose for the third straight month to 5 percent in January of 2021, reaching its highest level since last March. Main upward pressure came from prices of health (19.1 percent vs 18.6 percent in December); clothing & footwear (18.9 percent vs 19.1 percent); miscellaneous goods & services (14.4 percent vs 13.1 percent); housing & utilities (9.2 percent vs 8.8 percent) and furnishings (8.5 percent vs 7.7 percent). On a monthly basis, consumer prices fell 1.2 percent, after decreasing 0.8 percent in the previous month. source: Directorate of National Statistics, Somalia
Inflation Rate in Somalia averaged 14.70 percent from 1961 until 2021, reaching an all time high of 216 percent in December of 1990 and a record low of -15 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 - values, historical data and charts - was last updated on March of 2021.
Inflation Rate in Somalia is expected to be 4.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Somalia to stand at 4.20 in 12 months time. In the long-term, the Somalia Inflation Rate is projected to trend around 4.30 percent in 2022 and 4.40 percent in 2023, according to our econometric models.