An international report: the price of the food basket is $99 in Aden and $103 in Sana'a
English - Wednesday 10 May 2023 الساعة 09:51 am
Sana'a, NewsYemen, exclusive:
An international report revealed that the prices of food and consumer goods in the areas under the control of the legitimate government are lower than the prices in the areas under the control of the Houthi militia, which confirms the fake exchange rates in the areas controlled by the Houthi militia.
Food and service prices continue to rise in Sana’a and Aden, despite the discrepancy in the exchange rate. According to the “Yemen Economy January-February 2023” report, food prices in Yemen increased by 4% from January to February 2023, driven by the depreciation of the exchange rate, which is the highest rate recorded since January 2021.
The report, which is issued every two months by the Capacity Assessment Project and provides an overview of the main economic trends in Yemen, said that the cost of the minimum food basket in the areas of the legitimate government amounted to 99 dollars, and in the areas of the Houthis 103 dollars.
The stability of the riyal price in Sanaa is due to the strict application of the Houthi militia - the Iranian arm in Yemen - to a fixed exchange rate, as well as the gradual decrease in the supply of old-issue banknotes, with large amounts of them damaged and unusable.
According to the report, which provides an analysis of commodity prices, the exchange rate, the volume of fuel and food imports, and major contextual events, the total volume of food imports increased by approximately 12% in the period from January to February 2023 compared to the previous two months.
He pointed out that food imports through the ports of the Red Sea and the South increased in January by 4.5% over the 12-month moving average, and in February they were 10% higher.
Yemen imports about 90 percent of its food and fuel needs in hard currency "dollars" from abroad, and the fluctuation of the riyal price negatively affects commodity prices, and according to the latest official statistics, the total bill for Yemen's imports from abroad reached $9 billion in 2021.
