The annual inflation rate in Ethiopia remained at 20% in July according to data revealed this week. Month-on-month prices remained unchanged for the third consecutive month revealed the data.
The pace of increase in food prices, however, has marginally slowed down showed the data. Food inflation decreased to 20.7% from 21.5% and non food inflation fell to 19.8% from 19%.
The year on year inflation rates showed signs of alleviating from 20.9% in June noted the Central Statistics office.
Increases on international oil prices and poor harvests have pushed inflation to double digits in many African countries in the last year.The most significant challenge facing policymakers in Ethiopia is inflation according to the International Monetary Fund which noted that the country has registered significant economic growth rates.
Official projections in Ethiopia anticipate an 11% growth for the 2011-12 financial year which just concluded on the basis of enhanced agricultural output according to government reports.
Source: Reuters
