×
GreekEnglish

×
  • Politics
  • Diaspora
  • World
  • Lifestyle
  • Travel
  • Culture
  • Sports
  • Cooking
Wednesday
14
Jan 2026
weather symbol
Athens 15°C
  • Home
  • Politics
  • Economy
  • World
  • Diaspora
  • Lifestyle
  • Travel
  • Culture
  • Sports
  • Mediterranean Cooking
  • Weather
Contact follow Protothema:
Powered by Cloudevo
> Economy

Shortage of Ukraine wheat set to push Somalia inflation past 10%

The country’s “unsustainable” trade deficit is likely to widen further as importers struggle to find alternative markets to import basic goods

Newsroom May 4 12:43

Somalia’s inflation is expected to surge past 10% unless the country gets good rains over the next two months to help ease pressure on food prices after losing wheat supplies from Ukraine, according to a top official at its central bank.

Inflation picked up significantly “due to continued lower food production, but this time wheat, which is mostly sourced from Ukraine and flour which is sourced from Turkey have become scarce, pushing prices even higher,” Abdilahi Ali, executive director for Monetary, Financial and Regulatory Policy, said in an emailed response to questions.

The Horn of Africa nation is experiencing its worst drought in four decades, with an estimated 7.7 million people in need of food aid. An Islamist insurgency that’s disrupted production and the war in Ukraine has exacerbated shortages — the country relies on Russia and Ukraine for more than 90% of its wheat imports.

The cost of wheat and flour has climbed, while that for gas used for cooking has doubled in recent months, Ali said. Inflation was at 6.1% in March, national statistics agency data show. The last time it was higher than 10% was in 2006.

See Also:

Amazon invests in robots to work alongside humans

Also, the country’s “unsustainable” trade deficit is likely to widen further as importers struggle to find alternative markets to import basic goods such as wheat, he said.

>Related articles

Why Gen Z is returning to religion: what new research in the United Kingdom shows

JPMorgan: Greece one of the most attractive markets for the Emerging Europe category

ELSTAT: Inflation up to 2.6% in December

The crisis has opened the door for militant group al-Shabaab to bolster its numbers and comes as lawmakers are due to elect a new president in a vote already delayed a year.

“We are hoping for an above-average rainy season which is expected from now until the end of June so that, at least by the end of the year, domestic food production can act as a substitute or at least complement lower-than-expected food imports,” Ali said. “If these two do not happen, then double-digit inflation is likely, which is something not seen in Somalia for a long time.”

Source: Bloomberg

Ask me anything

Explore related questions

#economy#food#inflation#Somalia#war#wheat#wheat shortages#world
> More Economy

Follow en.protothema.gr on Google News and be the first to know all the news

See all the latest News from Greece and the World, the moment they happen, at en.protothema.gr

> Latest Stories

Why Gen Z is returning to religion: what new research in the United Kingdom shows

January 14, 2026

Striking discovery about beaked whales: How sounds reveal the secrets of the most mysterious whales

January 14, 2026

Mitsotakis at a law firm for the presentation of the new digital court file

January 14, 2026

Sounion: A place of reconnection with the Ancient Greeks, the significance of the Temple of Poseidon

January 14, 2026

Meteo: Forecasts point to a warm February in Greece, with temperatures up to +1.2°C above average

January 14, 2026

Greece participates for the first time in the OECD TALIS International Survey

January 14, 2026

The head of the Hellenic Civil Aviation Authority resigned over the blackout in the Athens FIR

January 14, 2026

UBS: Greek banks in the spotlight – Piraeus Bank portfolio top pick

January 14, 2026
All News

> World

A 24-year-old waitress holding the fireworks that caused the deadly fire in Crans-Montana died of asphyxiation

The owners of Le Constellation bar had her as their stepdaughter - they asked her to "liven up the atmosphere"

January 14, 2026

Iran responds to Trump’s threats: ‘We will strike American bases in neighboring countries if attacked’

January 14, 2026

Critical White House meeting on Greenland amid Trump’s threats to take over the island

January 14, 2026

At least 2,571 people killed in repression of protests in Iran, according to human rights organisations

January 14, 2026

Trump warns Iran of ‘very strong action’ if protester executions proceed

January 14, 2026
Homepage
PERSONAL DATA PROTECTION POLICY COOKIES POLICY TERM OF USE
Powered by Cloudevo
Copyright © 2026 Πρώτο Θέμα