The Somalia National Bureau of Statistics (SNBS) has published the Consumer Price Index (CPI) report for October 2024, revealing an annual inflation rate of 5.83%, up from 5.33% in September.
This rise, as published in the latest SNBS report on Friday, reflects increasing upward pressure on consumer prices.
The monthly CPI serves as a key economic indicator, tracking changes in the cost of goods and services consumed by households.
The uptick could be attributed to various factors, including higher prices for essential commodities, challenges in the supply chain, or external economic pressures.
This highlights the importance of monitoring inflation trends to ensure they do not significantly impact purchasing power, particularly in a country where economic recovery and food security remain critical.