Ethiopia’s inflation rate has further surged to 11.9 percent in July, according to The Daily Monitor.

From January 2015 to May 2015, the inflation has registered 7.7, 8.2, 8.5, 9.3 and 9.4 percent increase respectively.

The July 2015 monthly consumer price index from the Central Statistics Agency (CSA) has now further indicated that the rate has increased to 11.9 percent.

The Agency’s monthly consumer price index report states, food price increased to 13.9 percent from 12.4 percent in June, mainly as a result of price increase in food items like meat, fruits, vegetables and cereals.

Non-food inflation rate that registered a decrease last month, from 8.7 percent in May to 8.2 percent in June, nonetheless rose from the previous months 8.2 percent to 9.7 percent in July.

Ethiopia’s inflation rate for the up-coming year is forecasted to be eight percent, according the country’s 2008 E.C fiscal year budget.

Source: The Daily Monitor