The annual inflation rate in Somalia edged down to 3.1 percent in February of 2020 from 3.2 percent in January, as prices fell further for housing & utilities (-3.1 percent vs -2.2 percent); recreation & culture (-4.1 percent vs -3.9 percent) and miscellaneous goods & services (-2.5 percent vs -3.4 percent). In addition, cost slowed for heath (1.1 percent vs 16.3 percent); clothing & footwear (11 percent vs 12 percent) and transport (2.1 percent vs 4.7 percent). In contrast, food inflation shot up to 6.4 percent from 3.9 percent in the prior month, amid surging prices of fruits as desert locusts have devastated a large extension of farmland. On a monthly basis, consumer prices were up 0.9 percent, after decreasing 1.3 percent in the previous month.
Inflation Rate in Somalia averaged 16.08 percent from 1961 until 2020, 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 2020.
Inflation Rate in Somalia is expected to be 4.30 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 5.00 in 12 months time. In the long-term, the Somalia Inflation Rate is projected to trend around 4.00 percent in 2021, according to our econometric models.