Yemen’s annual inflation rate soared to 45% at the end of 2021 from 35% in 2020, recording the highest level in a single year, while the overall balance of payments was running a large deficit and a bloody war continued in Yemen. countries for the eighth year in a row.
The Central Bank of Yemen’s report on economic and monetary development for March indicated that imported inflation, which depends on goods and services imported from abroad, is one of the main factors negatively affecting prices.
He noted that the general price level curve in 2021 showed an upward trend at an average rate of about 111% compared to 30% in the previous year, influenced by the depreciation of the value of the Yemeni rial against foreign currencies. in the exchange market, which at that time reached an unprecedented level; This is directly reflected in the prices of major food imports, which account for about 90% of all food consumed in Yemen.
Source: El Iktisad
