The annual inflation rate in Somalia edged up to 5.1 percent in March of 2021 from 5 percent in the previous month. It was the highest inflation rate since March of last year, mainly due to prices of clothing & footwear (19.22 percent, the same pace as in February); housing & utilities (11.4 percent vs 9.8 percent); health (22.9 percent vs 23.3 percent) and miscellaneous goods & services (14.8 percent vs 14.2 percent). Meanwhile, food costs dropped 0.3 percent, after being flat in February. On a monthly basis, consumer prices surged 2.2 percent, the most since April of 2020, after a 0.9 percent rise in the previous month. Prices advanced faster mostly for food & non-alcoholic beverages (3.3 percent) and health (4.1 percent). source: Directorate of National Statistics, Somalia
Inflation Rate in Somalia averaged 14.50 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 May of 2021.
Inflation Rate in Somalia is expected to be 4.40 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 4.30 in 12 months time. In the long-term, the Somalia Inflation Rate is projected to trend around 3.70 percent in 2022 and 3.40 percent in 2023, according to our econometric models.