Ethiopia Feb inflation rises on food prices
Mon Mar 12, 2012

ADDIS ABABA, March 12 (Reuters) - Ethiopia's year-on-year rate of inflation rose in February to 36.3 percent from 32 percent a month ago, official data showed on Monday.

Many countries in east Africa and the Horn of Africa are battling double-digit inflation after poor rain cut harvests and global oil prices surged.

In January, Ethiopia's inflation dipped on the back of a drop in both food and non-food inflation, but this reversed sharply to send inflation higher in February.

Year-on-year food inflation increased by 47.4 pct as compared to February 2011, while non-food inflation increased by 21.4 percent as compared with the same period.

"In February 2012, increases were observed in the prices of cereals, pulses, vegetables, fruits and spices," the agency said.

"Moreover, the non-food inflation also increased by 21.4 percent in February 2012 as compared to the one observed in February 2011."

Consumer prices rose 2.7 percent month-on-month in February from 0.6 percent the previous month, according to the agency. (Reporting by Aaron Maasho; Editing by James Macharia)

http://af.reuters.com/article/commoditi ... DB20120312

Back in 1995, Dictator Meles Zenawi said,
"In 10 years, Ethiopians will enjoy 3-meals a day."

http://www.youtube.com/watch?v=jZGRJP36 ... r_embedded


▬▬▬▬▬▬▬▬▬
RIP Yenesew Gebre
Your death was not in vain.
Я Ξ √ Ω L U T ↑ ☼ N
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Revolution,

Let's forgive the midget for reading 17 years ago from the wrong crystal ball. Here is a news item from last month, again with the messianic prediction of the 'genius'...


The annual inflation rate in Ethiopia fell to 32% in January following a slow down in food price increases according to the Central Statistics Agency.

The inflation rate for the month of January dropped from 35.9% in December following the drop in annual food inflation to 41.4% from 46.7% in December said the report from the agency.

Non food inflation also showed a decrease from 21.8 percent in December to 19.2% in January noted the Agency.

The Ethiopian government expects inflation to fall to single digits by the end of the Ethiopian fiscal year in July according to Prime Minister Meles Zenawi addressing the House of Representatives yesterday.

The rate of inflation has fallen because the government intervened in the market to buy and distribute basic foodstuffs thus enabling food prices to stabilize according to Meles.

The rate of inflation is expected to lower in 2012 going down to single digits following the peak it hit last August according to Standard Chartered plc, a London based bank.It is to be remembered that inflation in Ethiopia accelerated in 2011 following increases in domestic food prices, the devaluation of the Ethiopian birr against the dollar and central bank loans to the government the bank noted.

Source: Bloomberg

The value of the Ethiopian birr is worthless under savage dictator meles Zenawi.

In few Years time Ethiopians will be feeding of "PERCENT." So many PERCENTS are used to refer Ethiopia, from population growth to inflation hike to number of hungry people increase to number of people with HIV/AIDS to people who are illiterate to people who not get clean water. All in all, Ethiopians use more PERCENT than anyone in Africa, my suggestion is why not change the national stable from TEFF to PERCENT?

...
WOW! WOW!

Indian inflation eases as food prices fall


New Delhi market Falling food prices helped ease Indian inflation in January

14 February 2012

India's main inflation rate has fallen to the lowest level in more than two years.

The report for January showed that wholesale prices rose at an annual rate of 6.55%, down from 7.47% in December.

Falling food prices have helped to ease the overall inflation rate and economists say the central bank now has greater scope to lower the cost of borrowing.

India's inflation rate remains higher than other leading emerging economies.

"The biggest factor for inflation coming down seems to be lower contribution from food commodities because of the bumper crop." said Deven Choksey, Managing Director at KR Choksey Shares and Securities in Mumbai.

"We expect inflation to remain at moderate levels in the near future, and if it settles around 6%, it will be a happy situation."

Sluggish economic growth has raised the prospect of a cut in interest rates by India's Central Bank.

"It gives more room to the Reserve Bank of India to go ahead with its interest rate cut." said Ashutosh Khajuria from Mumbai's Federal Bank.

"There is now an opportunity for the RBI to start its growth-biased monetary policy. Rate cuts could happen before March 31."

http://www.bbc.co.uk/news/business-17023787