Home | News    Tuesday 10 July 2012

Ethiopia’s Inflation drops to 20.9 pct in June

separation
increase
decrease
separation
separation

By Tesfa-Alem Tekle

July 9, 2012 (ADDIS ABABA) - Ethiopia’s annual inflation has seen a 20.9 percent drop in June from 25.5 percent the previous month, the Central Statistical Agency said on Monday in its monthly report.

The inflation decline in June is for the fourth straight month and was achieved mainly due to eased food prices.

Food inflation slowed to 21.5 percent from 29.2 percent two months earlier, while non-food inflation almost remained unchanged only saw 0.2 percent drop, the agency said.

The Horn of Africa country’s inflation surged to 36.3 percent in February 2012 mainly impacting on the lives of the poor and low-income society.

Coffee export is the back bone of Ethiopia’s economy. However, sesame, oil seeds and livestock exports are also major contributors to the economy.

The east African country is Africa’s biggest coffee producer and world’s fourth-largest sesame exporter after China, India and Myanmar.

Ethiopian officials say the country has been registering double digit economic growth for at least the past five years, however, inflation has been a major setback.

The country intends to slow inflation below 10 percent, which won’t influence economic growth. Ethiopia hopes to achieve projected growth of around 11 percent this year.

The International Monetary Fund (IMF) has raised Ethiopia’s growth forecast for 2012/2013. According to IMF latest report, Ethiopia’s economy will grow by 7 percent and inflation will be around 22 percent by year-end.

(ST)

Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.

Comment on this article


 
 

The following ads are provided by Google. SudanTribune has no authority on it.


Sudan Tribune

Promote your Page too

Latest Comments & Analysis


The theory of African president and prime minister, working together 2014-11-22 05:32:12 By Steve Paterno November 21, 2014 - Africa is notoriously known for political instability, stemming in most cases, over power struggle among the ruling elites. Often times, the best and quick (...)

The UNAMID internal report on mass rape in Tabit. 2014-11-21 06:09:21 What UNAMID really said about their investigation of mass sexual assaults on Tabit: The internal report on what investigators found By Eric Reeves November 20, 2014 - On November 12, 2014 (...)

Bullying Darfur 2014-11-13 18:13:39 By Namaa Al-Mahdi November 13, 2014 - “We broke their backs in Abu Karshola, I doubt they have recovered since,” said a prominent Sudanese Armed Forces (SAF) member about their counter attack on (...)


MORE








Latest Press Releases


Sudan Democracy First Group condemns wave of arbitrary arrests in Sudan 2014-09-25 05:17:35 Sudan Democracy First Group 25 September 2014 - In a desperate attempt to prevent a series of events commemorating the victims of the September 2013 protests, Sudan’s notorious National (...)

HRW calls on UN rights body to press Sudan to investigate murder of peaceful protesters 2014-09-24 21:24:09 Human Rights Watch One Year On, No Justice for Protester Deaths (Geneva, September 23, 2014) – The United Nations Human Rights Council should call on Sudan to account immediately for the death (...)

Hundreds walk for peace in South Sudan 2014-09-23 08:30:16 National Platform for Peace and Reconciliation (NPPR) PRESS RELEASE Juba, 21 September 2014 - Hundreds of people took to the streets of the South Sudan capital Jubato ‘Walk for Peace’and demand (...)


MORE

Copyright © 2003-2014 SudanTribune - All rights reserved.