The inflation rate in Ethiopia is expected to decrease to less than 10% by November according to Ethiopian Prime Minister Meles Zenawi.
It is expected that the inflation rate will continue to decrease according to the trend seen in March and is projected to reach single digits by November said Meles.
The annual inflation rate in Ethiopia slowed to 32.5% in March from 35.3% in February according to the Central Statistics Agency.
Annual inflation rate in Ethiopia fell to 35.9% in December following a decline in some food costs reported the Ethiopian Central Statistical Agency.
Prices increased by 1.7% during December with food prices climbing by just 0.2% due to a decrease in the price of some pulses and cereals said the Agency.
The Ethiopian year-on-year inflation rate for November lowered to 39.2% from 39.8% in October according to official data released this week.
Consumer prices fell by 0.3% as compared to October, showing a decrease for the first time in nine months. Inflation for food items lowered from 51.7% in October to 50.3% in November.
Price pressure particular eased for items such as fruits and vegetables, spices, pulses, sorghum, maize explained the statement from the Central Statistics Agency.
The year on year inflation rate in Ethiopia fell to 29.8% in April from 32.5% in March showing a decrease for the second straight month according to the Central Statistics Agency.
Year on year food prices also lowered to 36.7% from 40.9% in March while non-food inflation decreased to 19.6% from 20.4% the previous month said the agency.
The inflation rate month on month also decreased to 2.1% in April from 4.6% in March showed the statistics.
Ethiopia's year-on-year inflation jumped to 40.6 percent in August from 39.2 percent in July as food prices, especially those of cereals went up, the Central Statistical Agency said on Tuesday.
Early in August, the agency had said that Ethiopia’s inflation rate climbed to 39.2 percent in July from a year earlier.
Inflation accelerated from 38.1 percent in June, according to the agency. Food prices increased by 47.4 percent in July after rising 45.3 percent in the previous month, while the cost of non-food items fell from 27.9 percent to 27.8 percent, it said.
