Ethiopia inflation rate goes up in double digits

The country level 12 months moving average food inflation rate in Ethiopia for the month of April 2020 has increased to 23.1 percent from 22.2 percent from the previous month, said Central Statistics Agency (CSA) of Ethiopia said in its monthly inflation update.

All cereals and meat prices increased during the month. Some of the important vegetable types such as garlic, potato and pepper whole showed an increase in prices during the current month, according to CSA. “As pepper whole has relatively bigger weight share in food component of the index the continuous rise of its price could worsen the current inflationary trend,” CSA said.

Inflation rate for the non-food items has also increased to 14.4 percent last month from 13.7 percent in March 2020. CSA stated that the rise in inflation in the non-food component is steadily increasing in the recent months mainly due to rise in the prices of alcohol and tobacco, stimulants (khat), clothing and footwear, house rent, housing repair and maintenance, and energy (firewood and charcoal), and household goods and furnishings, transport and medical care.

General inflation of the Country for April 2020 is gone up to 19.1 percent from 18.3 percent the previous month, according to the Agency
“The 12 months moving average inflation rate shows the longer term inflationary situation,” CSA said.

CSA also stated that the country level food inflation increased by 23.1 percent as compared to the one observed a year ago. The country level Non-food inflation rate increased by 14.4 percent in April 2020 as compared to the one observed in April 2019.

Country level overall inflation rate (annual change based on 12 months Moving Average) in Ethiopia rose by 19.1 percent in April 2020 as compared to the one observed in a similar period a year ago.