Sierra Leone Market Price Bulletin, March 2017 Issue 1

Report
from Government of Sierra Leone, World Food Programme
Published on 28 Mar 2017 View Original

The Vulnerability Analysis and Mapping (VAM) Unit of the United Nations World Food Programme in Sierra Leone collects vital information on food security indicators throughout the country. In collaboration with the Ministry of Agriculture, Forestry and Food Security and key stakeholders WFP works to identify, understand and address food insecurity and vulnerability. This is the first issue of the Sierra Leone Market Price Bulletin, covering the period June 2016 to January 2017. The Bulletin will be published quarterly, providing updates on price changes for staple food commodities in Sierra Leone.

Highlights

  • The value of the Leone (SLL) against the US dollar continues to depreciate. The Consumer Price Index (CPI), which measures changes in the market price of a basket of goods and services purchased by consumers, increased by 15.63 percent from October 2015 to November 2016. The CPI is an indicator for inflation, and the increase represents a significant decline in purchasing power, particularly for vulnerable and low-income households.

  • In November 2016, the removal of a longstanding fuel subsidy increased the price of fuel by 62.5 percent, from Le3,750 to Le6,000 per litre. The dramatic increase in fuel prices is expected to impact both food and non-food expenditures at the household level (food prices, fuel costs for transport of food to and from markets, non-food related transport and cooking costs, etc).

  • The price of local and imported rice and cereals declined from October to November 2016, and remained stable during the recent harvest season between November 2016 and January 2017.

  • The purchasing power of low-income earners (unskilled labourers) declined between October and November 2016, but remained stable from November to December 2016.