Wednesday June 14 2017
Ethiopia Inflation Rate at 8.70 percent
Consumer prices in Ethiopia increased 8.7 percent year-on-year in May of 2017, following a 8.6 percent rise in the previous month. It is the highest inflation rate since February last year, as prices continued to advance for food and non-alcoholic beverages (12.3 percent vs 12.2 percent), led by cereals (specially Teff, Maize, Wheat, Sorghum and Barely). Also, cost went up for miscellaneous goods and services (7.2 percent vs 5.9 percent), transport (16.6 percent vs 10.4 percent) and restaurants and hotels (5.1 percent vs 4.4 percent), furniture and household equipment (8.7 percent, the same pace as in April) and recreation and culture (9.2 percent, the same pace as in April). Meanwhile, prices slowed for clothing and footwear (2.5 percent vs 2.6 percent), rents,housing and utilities (3.9 percent vs 5 percent) and communication (5 percent vs 9.4 percent). On a monthly basis, consumer prices rose 0.7 percent compared to a 1.6 percent increase in April.