Ethiopia’s inflation rate edged lower to 11.8 percent in a year to October from 11.9 percent in September, 2015, according to the Statistics Agency report on Monday November 9, 2015.

According to the Agency, inflation rate on non-food dropped to 7.0 percent in October from 7.5 percent in September. Inflation rate on food was 16.2 percent in October as compared with 16.1 percent in September.

Increased price of bread, meat, fruits, vegetables, cheese and cereals are the reasons for the inflation, the Consumer Price Index (CPI) of the Central Statistical Authority indicates.

The CPI further indicated “September’s inflation was mainly attributed to the nationwide rise in the indices of its constituent.”

The overall inflation in October 2014 was 5.4 percent, yet the inflation rate has increased by 9.5 percent in October 2015.

Ethiopia’s highest inflation was 64.2 percent in 2008 and the lowest was negative 4.10 percent in September 2009, it was reported.

Concerning the monthly inflation rate, it has been rising since January 2015 that was 7.7 percent. The following months until July 2015, 8.2, 8.5, 9.3, 9.4, 10.4 and 11.9 percent rate of inflation was recorded respectively.

Source: The Daily Monitor