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Somalia Market Update: January 2020 Update (Issued March 1, 2021 )

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Inflation: Somali Shilling (SoSh)-using areas: Consumer Price Index (CPI) increased mildly (1-2%) in central and southern regions, while it remained relatively stable in the northeast regions in January 2021 compared to December 2020. Compared to the 2016-2020 five-year average for January, CPI increased in central (4%), southern (11%) and northeast (23%) regions due to increases in the prices of sorghum (the main local cereal used in the calculation of CPI) and increases in imported food commodities this year. In the northeast, loss of value over the past two years of the local Somali-Shilling currency against USD and the main Somali Shilling currency used in southern Somalia is an additional factor.

Somaliland Shilling (SISh)-using areas: CPI increased mildly (3%) in January 2021 compared to both December 2020 and the five-year average for 2016-2020.

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