Ethiopia’s January inflation rises 7.7% y/y

by Reuters 17 views0

Ethiopia’s inflation rose to 7.7 per cent year-on-year in January from 7.1 per cent in the previous month.

This is according to the statistics office.

The Central Statistics Agency attributed the jump to higher prices of food and non-food items. Prices for such items as meat, dairy products, vegetables and fruit increased 7.1 per cent last month, up from 6.5 per cent in December.

(READ MORE: Ethiopia’s impressive economic growth)

Non-food inflation also rose to 8.2 per cent in January from 7.8 per cent the previous month, mainly due to an increase in prices for clothes and khat, a narcotic leaf chewed in the Horn of Africa nation.

Inflation peaked at 9.1 per cent in 2014 but it has since been moving up and down.