Somalia Inflation Rate at Near 3-Year Low of 4.8%

The annual inflation rate in Somalia eased for the second month to 4.8% in May 2024, reaching the lowest since September 2021.

There was a general slowdown in prices across most CPI categories, notably transportation (1.4% vs 9.9% in April); housing & utilities (4.1% vs 10.6%); health (3.6% vs 5.7%); furnishings & household equipment (6.2% vs 7.8%); communication (42.5% vs 61.9%); clothing & footwear (29.8% vs 32.7%); and tobacco & narcotics (6.7% vs 8.8%).

Meanwhile, prices of food & non-alcoholic beverages were flat, after declining 4% in the preceding month.

On a monthly basis, consumer prices rose by 1.5% in May, after a 2.1% increase in the previous month.