Ethiopian inflation dropped in December to 12.9 percent

  • PDF

Addis Ababa, January 11, 2013 (WIC) - The government had targeted single-digit inflation in 2012, but it didn’t happen though it was in decline.

Inflation peaked at 36.3 percent last February, and was a major economic challenge. It has steadily declined for some time now due to rising agricultural output and government subsidies on a number of food items.

According to the Central Statistics Agency, last month's year-on-year inflation fell to 12.9 percent from 15.6 percent in November.

The figures indicate the consumer price index fell by 0.7 percent month-on-month in December which is more than a 0.5 percent drop in November.

As for the Agency food price inflation fell to 11.8 percent year-on-year in December, down from 13.4 percent in November. The non-food inflation rate also dropped to 14.6 percent in December from 19.4 percent the previous month.

The International Monetary Fund said inflation is the biggest challenge facing policymakers in the country, which has however registered one of the world's fastest economic growth rates for little less than a decade.

Ethiopia's economy is expected to maintain a growth rate of 11 percent in 2012/2013.

Subscribe to get latest news

Visitors Counter

mod_vvisit_counterThis week177554
mod_vvisit_counterLast week217248
mod_vvisit_counterThis month771664
mod_vvisit_counterLast month1271595
mod_vvisit_counterAll days( since may 28, 2013)13177754

We have: 425 guests, 53 bots online
Today: Jul 25, 2014