According to the latest CPI report by the statistics agency, much of the food index components’ inflation rates have increased compared to the same month last year.
In February, the country-level food inflation increased by 34.7 percent compared to the one recorded a year ago.
The month-on-month general Consumer Price Index (CPI) for February 2022 has shown an increase of 3.4 percent, and the food CPI increased by 4.8 percent compared to the preceding month of January 2022. During the same period, non-food CPI showed a 1.4 percent increase.
The report indicated that bread and cereals have increased by 41.1 percent, Meat by 29 percent, Fish and Seafood by 37.8 percent, Milk, Cheese and Eggs by 35.9 percent. Also, Oil and Fats have increased by 92.9 percent, Fruits by 26.9 percent, Vegetables and Pulses, Potatoes and Tubers by 27.9 percent in February 2022 from last year’s same month.
The February 2022 Country Level Consumer Price Index has increased by 34.5 percent compared to February 2021. CSA said this increase in the General Consumer Price Index is attributed to the rise observed in the indices of Food and Non-alcoholic beverages by 41.9 percent.
Some of the highest inflationary indices observed in the Food and Non-alcoholic beverages include Alcoholic Beverages and Tobacco by 32.0 percent, Clothing and Footwear by 19.7 percent, House Rent, Construction Materials, Water and Fuel and Power by 17.9 percent, Furniture, Furnishings, Household Equipment and Operation by 42.2 percent, Health 37.9 percent, Transport 6.8 percent, communication by 4.4 percent, Recreation and Culture by 46.7 percent, Education by 28.4 percent, Restaurant and Hotels 24.6 percent and Miscellaneous Goods by 26.2 percent.
The country-level Non-food inflation rate increased by 21.9 percent in February 2022 compared to the one observed in February 2021. The 12 months moving average inflation rate shows the longer-term inflationary situation.
The rise in Non-food Inflation is mainly due to a surge in the prices of Alcohol and Tobacco, Stimulants (Chat), Clothing and Footwear, Housing Repair and Maintenance (House rent, Cement and Corrugated Iron sheets), and Energy (Firewood and Charcoal), Furniture and home furnishings, Fuel, Medical care, and Jewelry (Gold).
Ethiopia’s overall inflation rate (annual change based on 12 months Moving Average) rose by 29.1 percent in February 2022 compared to the one observed in a similar period a year ago.
Ethiopia’s year-on-year general inflation rate fell to 33.6 percent in February 2022, reaching 34.5 percent the previous month. Compared to the preceding month of January 2022, the month-over-month food inflation rate for February 2022 grew by 2.0 percentage points.
Source: Excerpt from CSA, February 2022 Report
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