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 long history of buying loyalty to neutralize rivals in South Sudan 2016-07-26 21:13:20 By Brian Adeba The replacement of South Sudan’s First Vice President Riek Machar with Taban Deng is a well-tested policy that dates back to the 1980s that the ruling Sudan People’s Liberation (...)

EU sidesteps human rights standards 2016-07-26 20:37:31 By Ahmed H. Adam and Ashley D. Robinson In the European Union’s struggle to manage its refugee crisis, is it sidestepping human rights standards by funneling funding to war criminals through the (...)

USA meddling in independence of South Sudan amidst coup d’état 2016-07-25 07:23:54 by Steve Paterno and Scott Morgan When a Country celebrates their Independence Day it’s generally considered to be a festive occasion. For the United States, John Adams envisioned a day with (...)


MORE






Latest Press Releases


Sudanese students, activists are at risk of torture: HRW 2016-05-25 14:40:51 Human Rights Watch Sudan: Students, Activists at Risk of Torture Free Detainees; Investigate Abuses (Nairobi, May 25, 2016) – Sudanese national security officials have detained dozens of (...)

South Sudan: Civilians Killed, Tortured in Western Region 2016-05-24 22:01:01 Human Rights Watch For Immediate Release South Sudan: Civilians Killed, Tortured in Western Region Provide Justice for Army Abuses in Western Regions (Nairobi, May 24, 2016) – South Sudanese (...)

Open Letter to President Salva Kiir and 1st Vice President Dr. Riek Machar 2016-04-18 12:36:12 South Sudan Women United April 15, 2016 Your Excellencies: South Sudan Women United writes to congratulate you both on the steps you are taking towards ending violence in South Sudan and (...)


MORE

Copyright © 2003-2016 SudanTribune - All rights reserved.