Food inflation continues to rise
English - Thursday 25 March 2021 الساعة 01:22 pm
Aden, NewsYemen, Exclusive:
The cost of living in Yemen has quadrupled since 2015, and the cost of the food basket has increased by 123% compared to pre-war prices, while jobs have halved, and although food is available, the majority of Yemenis cannot afford to buy it.
The inflation rate for food commodities in the Houthi militia-controlled areas increased by 17.5 percent in January 2021, compared to January 2020, driven by an increase in fuel prices on the black market.
The Houthi militia has undermined the formal economy, public institutions and services, in favor of a "hidden" economy that is in its interest, and the black market has prevailed in its two parts over official transactions.
The United Nations Humanitarian Update in Yemen report said that fuel prices in the areas controlled by the Houthi militia increased on the black market by 59% for petroleum, 70% for diesel, and 88% for cooking gas.
The Houthi militia abolished the official oil derivatives market in its areas of control, and turned it into a black market, in order to maximize profits from the fuel trade, which has become to the top of its list of financial resources, at the expense of the prices of basic goods and services for the citizen.
The price of a petroleum bear on the black market reached 20 liters 16,500 riyals, the price of a diesel bear 15600 riyals, and a gas bear 11,000 riyals, in the capital Sanaa and the rest of the militia's control areas.
Citizens assert that fuel is available in Sanaa and the rest of the governorates, and it is sold on the black market, which is run by Houthi leaders, but at high prices that are four times the official price.
