13 November 2012

Ethiopia: Inflation Falls for the Eighth Consecutive Month

Photo: Manoocher Deghati/IRIN
Women selling vegetables at a market (file photo): Food price inflation dropped to 13.2 percent this month, down from 17.6 percent in September.

Inflation in Ethiopia has fallen for the eighth consecutive month, according to official data released by the Central Statistics Agency yesterday (12 November).

The country's year-on-year inflation rate fell to 15.8 percent for the month of October. This was down from 19 percent last month.

The drop in the inflation rate was aided by a slowdown in the pace of food cost rises. Food price inflation dropped to 13.2 percent this month, down from 17.6 percent rate in September.

The Central Statistics Agency data also showed that consumer price inflation rates in the country shrank to -0.7 percent, further contributing to the general fall in inflation.

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