Inflation in Ethiopia Slows to 32.5% in March

The annual inflation rate in Ethiopia slowed to 32.5% in March from 35.3% in February announced the Central Statistics Agency.

Food prices rose by 40.9% in March as compared to the same time last year, which is lower than the 47.4% increase seen in February. Non food inflation also eased rising 20.4% year on year as compared to 21.5% the month before.

Consumer prices month on month rose by 4.6% in March from 2.7% the previous month according to the report from the agency.

It is to be remembered that the year on year inflation rate in Ethiopia rose to 36.3% in February from 32% in January according to official statistics revealed yesterday.

As compared to the same month last year, food prices showed an increase of 47.4% while non food inflation showed an increase of 21.4%.

The main increase in food prices was seen in the prices of fruits and vegetables, cereals, pulses and spices according to the official agency.

Month on month consumer prices as seen against that of January showed a 2.7% increase from just 0.6% in January.

The inflation rate for the month of January had dropped from 35.9% in December following the drop in annual food inflation to 41.4% from 46.7% in December according to a report from the Central Statistical Agency.

Source: Reuters

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