Ethiopian inflation fell for the first time in four months in June, with food prices rising at the slowest rate since August.

According to data from Ethiopia’s Central Statistics Agency, the annual inflation rate has reduced to 34 percent from 37.2 percent in May. Food-price inflation fell to 38.1 percent from 43.9 percent, while non-food inflation remained unchanged at 28.4 percent.

Bloomberg stated, nonetheless, that consumer-price growth is near the highest in at least nine and a half years, and inflationary pressures may rise further after the government announced plans to end fuel subsidies and a 38% increase in diesel prices last week.

Source: Bloomberg/ CSA

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