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]


SHARE :
               


Editorial

Last week saw a series of events where the political bigwigs from the f...


Agenda

The cement industry in Ethiopia, although still largely untapped, is se...


Fineline

It is unusual for a federal agency to get estranged...


Commentary

Recently, the National Bank of Ethiopia (NBE) had announced the mandato...


Viewpoint

Neglected Tropical Diseases (NTDs) disproportionately affect women and...


Opinion

Until very recently, Turkey was a proudly democratic Middle Eastern cou...


View From Arada

We often underestimate the importance of time managiment. Especially in...


Editors Pick














MEMBERS' LOGIN

SUBSCRIBE TO ADDISFORTUNE

Subscribe to our Newsletter

* indicates required


ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT