On April 21, 2025, Sierra Leone recorded a significant drop in its annual inflation rate, with the latest figures from Statistics Sierra Leone (Stats SL) revealing a fall from 13.09% in February to 10.71% in March 2025.
This 2.38 percentage point decline highlights a notable step towards improved economic stability.
The Consumer Price Index (CPI) report, released by Stats SL, also indicates a sharp decrease in monthly inflation, which dropped from 0.93% in February to 0.24% in March. Compared to March 2024, when annual inflation stood at a staggering 40.69%, the current figures show a dramatic turnaround.
Several sectors contributed to this downward trend. Inflation in Housing, Gas, Water, and Electricity fell significantly by 5.81 percentage points—from 11.45% in February to 5.64% in March. Restaurants and Hotels also saw a 4.40 percentage point decrease, from 25.86% to 21.46%.
According to Stats SL, this progress is part of a broader downward trend observed since the start of 2025, attributed to ongoing fiscal and monetary policy reforms aimed at curbing inflation and stabilizing prices.
However, not all sectors followed the same path. The Furnishings, Household Equipment and Routine Household Maintenance category saw an increase in inflation, rising from 12.04% to 17.06%. Similarly, Alcoholic Beverages, Tobacco and Narcotics recorded a modest increase from 10.23% to 11.61%.
On a regional level, all five regions experienced a reduction in inflation. The Western Region saw the biggest drop, from 16.48% to 13.02%. The Northern Region decreased from 12.41% to 10.94%, North-West from 11.23% to 9.04%, Eastern from 9.00% to 7.87%, and the Southern Region from 8.62% to 7.43%.
Stats SL also reported that inflation has declined across seven major COICOP divisions. Food inflation, in particular, has reached its lowest point in five years, with its impact on the national inflation rate reduced fourfold compared to last year.
The latest data signals continued progress for Sierra Leone’s economy, with hopes that the trend will persist in the coming months.