Inflation in Yemen
Yemen - InflationThe economy will have remained in a dire state at the tail end of 2021, as the currency crisis was further aggravated in early December: The Yemeni rial—used in the area controlled by the internationally recognized government—depreciated to a new record low in the parallel market, trading at 1,700 per USD. In a bid to stem the unprecedented collapse, the president reshuffled the Central Bank’s board and appointed Ahmed Ghaleb Al-Maabqi as the new governor. Following the restructuring, the rial gained back some ground. Nevertheless, inflation has likely soared in recent weeks, making food inaccessible and putting citizens on the brink of famine. Additionally, in late December, a leak from the Safer oil tanker was detected, warranting more urgent action to prevent a potential catastrophe. In a silver lining, the World Bank recently approved two grants totaling USD 170 million to address food insecurity in rural areas and restore critical urban services.
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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