Ethiopia inflation soars to 7.1 pct y/y in Dec – ADDIS ABABA (Reuters)

January 23rd, 2010 Print Print Email Email

Ethiopia’s year-on-year inflation rose to 7.1 percent in December from 0.6 percent in November on the back of rising fuel, food and construction material prices, the statistics office said on Friday. (more…)

Ethiopia’s year-on-year inflation rose to 7.1 percent in December from 0.6 percent in November on the back of rising fuel, food and construction material prices, the statistics office said on Friday.

Inflation in the vast Horn of Africa nation hit a high of 64.2 percent in July 2008. It then entered a period of deflation from July to October last year.

“In the recent months, except for cereals and oil seeds and fats, all the other food components show a rise in their indices,” the Central Statistical Agency said in a statement.

“Among the non-food components, the prices of fuel, construction materials, clothing and footwear, furniture and furnishing and personal care and effects are increasing.”

After the July 2008 peak, the government halted state borrowing and increased bank reserves to drive down the rate.

Ethiopia’s central bank had also instructed private banks to restrict borrowing as part of the attempts to curb inflation.

The global recession has slashed international demand for Ethiopia’s agricultural exports and power cuts have ravaged business, fuelling a foreign currency shortage.

The government says it expects growth of about 10 percent in 2010. Opposition parties contest the government’s statistics.

Ethiopia, one of Africa’s biggest potential markets with some 80 million people, is drawing growing foreign investor interest in agriculture, hydropower and oil and gas exploration.

  1. ashebir
    | #1

    the unrelentlesslie of the tyrant melese is digging the grave ofour beloved country .yet he claims the economy is growing in double dijitthis is an evidence how long r we to see this down ward trend and watch the burial of our mother

  2. ashebir
    | #2

    what 2 change isn’t itvhe truth

  3. Anonymous
    | #3

    Despite claim tyrant Meles’ claim that that the rate of growth of the economy at 7% is one of the fastest in the world, the biting inflation rate of 7.1% surley tells a different story.

  4. Anonymous
    | #4

    Despite claim tyrant Meles’ claim that that the rate of growth of the economy at 7% is one of the fastest in the world, the biting inflation rate of 7.1% surely tells a different story.

  5. tewbel
    | #5

    These figures are absurd.

  6. አንበሴ
    | #6

    አቡጊዳ: መቼም እናንተ በኢትዮጵያዊነታችሁ ሳታውቁት አትቀሩምና ከሬውተር ዜና አግልግሎት ብቻ መቀበል ሳይሆን ከሬውተር ዜና አግልግሎት ባሻገር መተንተን ፋንታችሁ ነው::
    በኢትዮጵያ ሃገራችን ያለውን የምግብ የነዳጅና የሌሎችም ችግር ፈጣሪው የወንበዴው ወያኔ ዱርዬ መንግስት ስለመሆኑ በግልጽ ዘግቡ እንጂ! ኢትዮጵያውያን አይደላችሁ እንዴ! ሕዝብ በየደቂቃዋ እይታሰረና እያለቀ ነው እኮ! ሕዝባዊው ማእበል በዝግጅት ላይ ስለሆነ እንደመድፍ እና ጠመንጃ አድርገው ሕዝብን ከትግል ለማሰናከል አእምሮአችንን ወደችግሩ ዓለም ለመመለስ የሚደረግ ውንብድና ስለመሆኑ ለማጋለጥ ምን ያዛችሁ? ፋሽስቱን የወያኔ ቡድን ለማጋለጥ ኢትዮጵያዊነት መብት ሳይሆን ” ግዴታ “አለባችሁ:: ያውም ነጻነትና ዲሞክራሲ ባለበት ሃገር:: በኢትዮጵያዊነታችሁ በነጻነት እንዳትኖሩ ተገፍታችሁ ታስራችሁ የተሰቃይታችሁላት ኢትዮጵያንና ሕዝቧን ለትግሉ ለእንቅስቃሴው አጋዥነት እውነትን ዘግቡ ወንበዴውን ወያኔ አጋልጡ::

    ኢትዮጵያ ለዘለአለም ትኑር!!!

    ድል ለኢትዮጵያ ሕዝብ!!!

Comments are closed.