Attachments
Highlights
Inflation:
SoSh (Somali shilling)-using areas: Compared to one month ago, consumer Price Index (CPI) remained relatively stable in November 2018. CPI declined by 16 percent compared to one year ago (November 2017) in SoSh-using regions of central and southern Somalia due to decreases in cereal prices.
SISh (Somaliland shilling)-using areas: The CPI remained relatively stable in November 2018 but declined by 6 percent compared to a year ago (November 2017), mainly due to a decline in cereal prices.
Exchange rate:
SoSh-using areas: The exchange rates between SoSh and the United States Dollar (USD) remained relatively stable in most regions of the country in November 2018 compared to the previous month. Annual comparison indicates that SoSh depreciated against the USD in most of SoSh-using areas, with the highest depreciation recorded in northeast regions (20%) due to the cumulative impact of printing and supply of local currency notes in the region.
SISh-using areas: The exchange rates between SoSh and USD remained relatively stable compared to both last month and a year ago (i.e., October 2018 and November 2017, respectively).
Local cereal (white maize, red sorghum and white sorghum) prices either remained relatively stable or changed at mild rates (less than +/- 10%) in November 2018 across Somalia. Compared to a year ago, local cereal prices were lower in most regions due to improved harvests in 2018.
Prices of imported food (rice, sugar, vegetable oil, wheat flour) mostly exhibited relative stability or mild monthly changes in local currency terms in November 2018 in most regions of Somalia. For most food imports, prices also exhibited mild changes (mostly increases) in most central and southern regions compared to one year ago.
Livestock prices for local quality goat and camel mostly exhibited mild changes (less than +/- 10%) in most regions of the country during November 2018. Compared to a year ago (November 2017), livestock prices were higher in most regions due to improved livestock body conditions this year. Milk prices exhibited mild decreases compared to a month ago in most regions as more animals give birth and milk supplies increased. Milk prices (camel and cattle) also exhibited mild changes (less than +/- 10%) in most regions of the country compared to last year (November 2017).
Labor (unskilled) wages changed mildly (less than +/-10%) in November 2018 across all regions of Somalia. Compared to a year ago, labor wages mostly exhibited increases due to relatively improved agricultural labor opportunities this year, with the exception of labor wage rates in Shabelle Valley which declined moderately (by 16%).
Terms of Trade (ToT) between daily labor wage and cereals either remained relatively stable or changed mildly (+/- 1-3kgs/daily wage) in most regions of the country in November 2018. Annual comparison between November 2018 and November 2017 indicates higher ToT this year between daily labor and cereals in most regions due to increased labor wages and/or decrease in cereal prices this year. The ToT between local quality goat and cereals mostly exhibited mild changes in most regions of the country in November 2018. Annual comparison indicates higher ToT this year between goat and cereal due to increased goat prices and/or decrease in cereal prices.