Ethiopia inflation continues growing in double digits

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Ethiopia inflation continues growing in double digits

The country level overall inflation rate in Ethiopia (annual change based on 12 months Moving Average) rose by 15.8 percent in December 2019 as compared to the one observed in a similar period a year ago.

(newbusinessethiopia)—The country level food inflation increased by 18.9 percent as compared to the one observed a year ago, according to the report from the Central Statistics Agency (CSA). The country level Non-food inflation rate increased by 12.2 percent in December 2019 as compared to the one observed in August 2018. The 12 months moving average inflation rate shows the longer term inflationary situation.

“December 2019 General year-on-year inflation has increased by 19.5 percent as compared to the one observed in December 2018. The year-on-year Food inflation has increased by 22.7 percent in December 2019 as compared to the one observed in December 2018,” CSA report stated.

The report stated that slight declines in prices of the major cereal types (especially Rice, Teff, Wheat, Maize, Barely and Sorghum) were observed in the current month as compared to the previous month. However, increases in meat prices continued in the current month though the increases were not as exaggerated as in the previous months.

In addition, some of the food items (Tomatoes, Onions, Garlics, Potatoes, Cabbages, Carrot, Butter, Edible oils and Milk, Cheese and Eggs) also showed a decline during the current month. However, the annual inflation rate showed an increase in the current month since prices were relatively lower in the same month last year, according to the report.

The Non-Food inflation also rapidly increased i.e. by 15.8 percent in December 2019 as compared to the one observed in December 2018. The rise in Inflation in the Non-food component is steadily increasing in the recent months mainly due to rise in the prices of Clothing and Footwear, House Rent, Housing Repair and Maintenance, and Energy (Firewood and Charcoal), and Household goods and furnishings, Health Care and Transportation (Specially, Household Car).

 

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