Inflation Gambia 2024
Average inflation: 1.2%
Current Inflation
Inflation is low at 1.2%, below the ECB target of 2%.
Peak and Trough
The highest inflation was in January at 2.3%. The lowest inflation was in August at 0.4%.
- Highest month
- January: 2.3%
- Lowest month
- August: 0.4%
- Difference
- 1.9 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 16.9%. The lowest price increase was in Energy with an average of 14.7%.
- Highest increase
- Food: 16.9%
- Lowest increase
- Energy: 14.7%
Historical Context
Current inflation is 1.1% lower than the 5-year average of 2.3%.
- 5-year average
- 2.3%
- 10-year average
- 2.3%
- All-time high (2014)
- 4.8%
- All-time low (2015)
- -0.3%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +2.4 percentage point.
- Change vs. previous year
- -2.4 percentage points
- Largest monthly swing
- May: -3.3 percentage points
ECB Target
Inflation is 0.8% below the ECB target of 2.0%. Too low inflation may indicate economic weakness.
Purchasing Power
At this inflation rate, purchasing power gradually decreases. The impact on daily expenses is relatively limited.
What you could buy for €100 this year will cost approximately €101.20 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 2.3% | -2.9 |
| February | 2.0% | -2.7 |
| March | 1.9% | -2.6 |
| April | 1.7% | -2.9 |
| May | 1.3% | -3.3 |
| June | 0.9% | -3.0 |
| July | 0.6% | -2.6 |
| August | 0.4% | -2.5 |
| September | 0.4% | -2.3 |
| October | 0.6% | -2.1 |
| November | 1.1% | -1.2 |
| December | 0.9% | -1.4 |
| Average | 1.2% |
Data source
Data from WorldBank. Last updated: 06/01/2026.