Contrary to the trend for years now, the general inflation rate for Ethiopia has slightly decreased for two consecutive months.
The rate has declined from a high of 36.6% in April to 34% in June before finally reaching 33.5% in July 2022. It is the lowest reading since November last year.
According to data released by Ethiopia’s Central Statistics Agency (CSA), the downtrend is mostly attributed to the slowdown in food prices (35.5% vs 38.8% in June). Meanwhile, non-food inflation picked up from 28.4% to 30.4% in the same period.
On a monthly basis, consumer prices increased by 3.1%, decelerating from a 4.5% rise in the previous month.
Source: Reuters and CSA
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