Economic Media Report: 25% increase in basic commodity prices, 22.2 million Yemenis in need of humanitarian assistance

Economic Media Report: 25% increase in basic commodity prices, 22.2 million Yemenis in need of humanitarian assistance

Economic Index Report: 2017, issued by SEMC, shows that Prices of basic food items were on average 25%, 50% and 72% higher than in 2016, 2015 and pre-war 2014 prices, respectively.

SEMC director, Mr. Mostafa Nasr, explains that increase in prices of basic food items (flour, sugar, rice, milk, cooking oil) is due to the decline of the value of the Yemeni Rial, increase in fuel prices, and other war-related factors.

The Report also shows that fuel prices were 42% higher than in 2016.  Houthi-dominated governorates witnessed the highest increase in fuel prices.

The report reveals a crisis in humanitarian situation in the country, as 22.2 million Yemenis are in need of humanitarian assistance, of whom 11.3 million are in acute need of humanitarian assistance. Approximately 60% of Yemenis do not have access to clean drinking water and sanitation services. The health sector has deteriorated further in 2017; 50% of health institutions in the country have stopped working, whereas epidemics are widespread. Around a million cases of cholera, including 2300 deaths were reported in 2017. Moreover, about 3 million children and pregnant women suffer malnutrition.

The report also deals with the decline of the Yemeni Rial in the foreign exchange market. The Rial was down by up to 41%, compared to its 2016 value.

Finally, the report provides a reading of major economic trend indicators in 2018. Major trends include: further decline of the value of the Yemeni Rial, partial resumption of oil exports, and further outbound flow of Yemeni capital.

The Studies and Economic Media Center (SEMC) is one of the most prominent Yemeni NGOs that works on , and spreads  awareness of economic issues, in addition to buttressing good governance and public engagement in decision making, and working towards the creation of professional media.

 

The Center has contributed tremendously to debating and rectifying economic policies, divulging the loopholes   inherent in the country’s economic performance,  and influencing decision makers in such a way that serves the think-tank ‘ s vision- a transparent and flourishing Yemeni economy. Further, it has assumed a vital role in presenting economic information to society in a plain and simple manner. The Center seeks to forge ahead with its scholarly  mission despite the harsh conditions Yemen is experiencing.

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