Somalia Inflation Rate Slows to Near 2-1/2-Year Low

The annual inflation rate in Somalia fell to 5.21% in April 2024, the softest since November 2021, easing from 5.86% in the previous month.

Prices slowed primarily for clothing & footwear (32.7% vs 39.6% in March) while those of food & non-alcoholic beverages saw a further decline (-4% vs -2%).

Meanwhile, prices remained extremely elevated for communications (61.9%).

On a monthly basis, consumer prices rose by 2.12% in April, after a 2.25% surge in the prior month.