Ethiopia-Economy

Ethiopia: Inflation up by 24.5 percent

APA-Addis Ababa (Ethiopia)

A latest report by Ethiopia’s Central Statics Agency (CSA) indicated that the rate of inflation in Ethiopia increased by 24.5 percent in June 2021 compared to the same month last year.

According to the report released on Thursday, food inflation accounts for the biggest inflation rate standing at 28.7 percent while non- food inflation rose by 19 percent.

The agency said cereal, especially prices of maize and barley registered highest rate. The prices of meat, butter, spices, coffee and pepper have also shown remarkable price increases, according to the agency’s report. 

The report added. Alcohol, clothing, construction materials (including cement, corrugated aluminum sheets) and residential rental saw price hikes. 

Compared to the month of May, inflation went up by seven percent in June, it said.

The CSA report said that the 12 months moving average inflation rate suggests a longer- term high inflationary projection in the country.

There has been constant outcry about the non-stop increase in the cost of living in different parts of Ethiopia.  As is the case most of the time, it is worse in Addis Ababa and other bigger cities in the country. 


MG/abj/APA

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