Saturday, January 10, 2015

Ethiopia inflation jumps to 7.1 pct in December while the price oil under $ 60

Ethiopia's year-on-year inflation rose to 7.1 percent in December from 5.9 percent in the previous month, the statistics office said on Friday even at a time  the price of oil price gone down under $60.
The Central Statistics Agency attributed the jump to higher prices of food and non-food items. Prices for such items as sugar, vegetables and fruit increased 6.5 percent last month, up from 4.8 percent in November.
Non-food inflation also rose, to 7.8 percent in December from 7.1 percent the previous month, mainly due to an increase in prices for clothes and khat, a narcotic leaf chewed in the Horn of Africa nation.

Inflation peaked at 9.1 percent in 2014 but it has since been moving up and down.

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