Inflation Held Below 7pc

Ethiopia’s inflation rate fell to 6.7pc last month as consumers paid less for food items, according to a report released last Thursday by the Central Statistical Agency. The rate is down from 7pc in November.

The country has single digit inflation for the past 11 months. The government, in the first edition of the Growth and Transformation Plan, planned to keep inflation to a single digit less than eight percent.

During October 2016, the country saw the lowest inflation rate in a two-year period.

Food price, such as cereals, vegetables, and spices, dipped 5.3pc from 6.1pc in November 2016. However, sugar, fruits, oil and fats, and coffee showed a slight rise in their prices during the current month.

The non-food inflation was unchanged from November at 8.1pc.

The surge in the prices of khat, clothing and footwear, firewood and household goods and furnishings contributed to the continuous rise of non-food items.

The country saw a record high inflation rate of 64pc in July 2008 and its average has been 16.8pc over the past ten years.

Published on Jan 10,2017 [ Vol 17 ,No 871]



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