The annual national consumer price inflation rate for June is at 31.93%, down by 3.91 percentage points from 35.84% in May 2024 in Sierra leone. This decline indicates a slight easing in price increases compared to the previous month, offering a positive sign for consumers.

Reports say that the reduction in inflation suggests that the rate at which prices are rising is slowing, potentially providing relief to consumers struggling with high living costs and boosting their confidence and spending. Additionally, this decrease could enable the Central Bank to adjust its monetary policy rate more favourably, potentially leading to lower future interest rates that could stimulate borrowing and investment.

Despite these positive signs, inflation remains significantly high, indicating ongoing economic pressures.

The International Monetary Fund (IMF) projects that inflation will remain high in the short term, highlighting the need for effective economic policies.