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Highlights
Following the 02 April truce, the Yemeni riyal appreciated by 34 percent in areas under the internationally recognized Government of Yemen largely due to the anticipation of a USD 2 billion deposit at the Central Bank of Yemen Aden. However, the YER had depreciated by 19 percent by the end of June 2022 and shortages in foreign currency reserves continue to prevail.
Fuel imports through Al Hodeidah and Salif ports significantly increased in association with the agreed truce in April During the second half of 2022 the total fuel imports through the northern ports increased by 137 percent compared to the previous year.
Local prices of petrol and diesel increased across the country during June 2022 Year on year fuel prices doubled in the south and increased significantly in the north.
During the second half of 2022 total food imports through Al Hodeidah and Salif ports were 17 percent higher than the same period last year On the other hand, food imports through Aden port decreased by 53 percent compared to the same period in 2021.
Global food prices reached an all time high during March 2022 and have remained at similarly high levels since then Global food prices have increased by 23 percent since June 2021 and are expected to increase further through the end of 2024 due to the ripple effect of Ukraine Russia crisis on supply chains (Source World Bank).
Continued funding shortages led WFP to reduce food rations further as of June 2022 As of June, WFP targets five million people with less than half of their daily requirement and eight million people receive close to one third of their daily requirement.
in areas under the IRG, the cost of the minimum food basket has increased by 77 percent over the past 12 months In areas under the Sana’a based authorities, the cost of the MFB increased by 38 percent. The cumulative increase in food prices since early 2021 is further eroding the already limited purchasing power of households and leading many to adopt severe coping strategies.
In June 2022 the proportion of households lacking access to adequate food bounced back to pre Ramadan levels and reached 52 percent in areas under the IRG, and 49 percent in areas under the Sana’a based authorities Food insecurity reached critically high levels in 18 out of the 22 governorates.