Inflation in Yemen
Yemen - InflationThe dire state of the economy will have deteriorated further in H2 so far, aggravated by the worsening of the currency crisis in recent months, and intensified fighting in the Marib and Hodeida port areas. The internationally-recognized government has tried to access the IMF’s SDR allocation of USD 655 million—made available on 23 August—but it first needs to find a willing country to exchange the SDRs for hard currencies in order to spend them. Foreign currency reserves, which are used to import basic goods, are quickly waning—covering only one month of imports. Therefore, the Central Bank has begun weekly auctions of the remaining reserves—on the IMF’s recommendation—in order to boost liquidity and ease pressure on the exchange rate. The Yemeni rial—used in the south of the country—collapsed to an unprecedented value, trading at around 1,500 per USD in the parallel market in mid-November, making food increasingly inaccessible, pushing an estimated 16.2 million people into acute food insecurity.
Yemen - Inflation Data
|Inflation Rate (CPI, annual variation in %)||22.0||21.3||30.4||27.6||14.7|
5 years of economic forecasts for more than 30 economic indicators.
Yemen Inflation Chart
Source: Central Bank of Yemen.
|Exchange Rate||250.4||0.0 %||Dec 31|
|Stock Market||0.6||0.0 %||Dec 31|
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