Somalia's annual inflation eased to 3.8 percent in October of 2020 from 3.9 percent in the previous month, reaching its lowest level since February. Prices continued to decrease for food & non-alcoholic beverages (-3.6 percent vs -3.1 percent in September) and tobacco & narcotics (-3.4 percent vs -6.5 percent). Meantime, inflation slowed mostly for transport (1.3 percent vs 3.4 percent); recreation & culture (0.1 percent vs 1.3 percent) and restaurants & hotels (0.1 percent vs 0.5 percent). On a monthly basis, consumer prices were flat, after increasing 0.5 percent in the previous month. source: Directorate of National Statistics, Somalia

Inflation Rate in Somalia averaged 15.03 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 November of 2020.

Inflation Rate in Somalia is expected to be 4.00 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 4.20 percent in 2021 and 4.30 percent in 2022, according to our econometric models.

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Somalia Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.80 3.90 216.00 -15.00 1961 - 2020 percent Monthly
Dec 2014=100

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 percent of the total weight) and Housing, Water, Electricity & Gas (23 percent), followed by Clothing & Footwear (5 percent), Health (5 percent), Transport (4 percent), Furnishing, Households & Maintenance (3 percent), Communication (3 percent), Tobacco & Narcotics (1 percent), and Recreation & Culture (1 percent).