The Yemen Economic Indicators Report shows that the Yemeni Rial lost 44% of its value in a single month. Depreciation of the Rial led to a sharp rise in basic commodity prices, which rose by an average of 30%.
The report issued by the Studies and Economic Media Center (SEMC) affirms that Yemeni employees lost one third of the real value of their monthly salary within a single month and over two-thirds compared to early 2015 value.
Marib governorate witnessed the highest escalation in basic commodity prices. The Yemeni capital, Sana’a, recorded the lowest increase in basic commodity, and the highest in fuel prices.
The report, which monitors prices of basic commodities and fuel derivatives as well as economic variables, especially in major cities under the title “I am Hungry,” points out to the aggravation of poverty in Yemen, where more than 22 million people are in need of urgent humanitarian assistance. Signs of famine have come to the surface in more than one Yemeni governorate.
SEMC is a non-profit civil society organization working towards a successful and transparent Yemeni economy. It seeks to raise awareness of economic issues; promote transparency, good governance and citizen participation in decision-making; free and professional media; and economic empowerment of youth and women.Click to Download the Full Report