Somalia Inflation Rate Accelerates in October

The annual inflation rate in Somalia picked up to 5.83% in October 2024, from a three-month low of 5.33% in the prior month.

Strong price growth was observed for some CPI items such as communication (81.6%); restaurants & hotels (37.2%); recreation & culture (29.2%); clothing & footwear (23.6%); furnishings & household equipment (22.5%); miscellaneous goods & services (18.1%) and food & non-alcoholic beverages (5.8%).

On the other hand, prices declined for tobacco & narcotics (-15.4%); education (-6.2%); and housing & utilities (-3.1%).

On a monthly basis, consumer prices rose by 0.37% in October, after a 0.22% increase in the prior month.