ADIS ABABA (Reuters) – Ethiopia’s year-on-year {www:inflation} rate rose for a second straight month to 29.5 percent in April, from 25.0 percent a month earlier, driven by a sharp rise in food prices, the statistics agency said on Tuesday.
“The total price index of cereals in April 2011 has increased by 14.6 percent as compared to the same month last year, which significantly contributed to the rise in the {www:indices} of food and the general consumer price index,” the Central Statistical Agency said in a statement.
Ethiopia’s regime has imposed price ceilings on more than a dozen commodities including some essential foodstuffs. Food accounts for just over 57 percent of the basket used to measure the inflation rate.
Regime officials have accused traders of artificially inflating food prices on the back of higher global prices and a September {www:devaluation} of the birr currency ETB=.
Ethiopia is grappling with rising inflation like other countries in Africa, including Uganda where spiraling food and fuel prices have led to protests.
(Reporting by Aaron Masho; Editing by Richard Lough and Susan Fenton)
8 thoughts on “Inflation rate in Ethiopia rose to 30 percent”
This is the first accurate account of the situation in Ethiopia. Inflation rate is rising, TPLF pocketing record profit, as Ethiopians are getting ever more desperate. If you do the calculation, it comes doen to BEKA REVOLUTION. The only hope Ethiopians have to lead a decent livelihood is if we succeed on the BEKA REVOLUTION. Anything short will be the end of Ethiopians.
The vilification of entrepreneurs as the perfect scape goat continues, when in truth everyone knows that it was the very government policy that lead to this. Instead of identifying the true cause of the Market failure and doing all possible to stimulate the Market, our PM prefered the populist option of price cap. No where has it been proven a price cap to work in resolving the kind of problem Ethiopia was facing.
In the end there is only one way out of this, either we become the new communist country of the century or Meles goes back to the very entrepreneurs they are trying to vilify. Either or the people of Ethiopia continue to suffer.
Is that double digit growth or inflation? Sir Meles who is going to blame this time again traders or his unability to guide? Just wonder.
Comment #1, you nailed it but there is only one problem. For the Revolution [ either “BEKA” or any kind] to happen, there has to be a persistent hunger among the populous for dignity. The problem is, sadly Ethiopians are comfortable in sleeping with these giant blood sucking parasites on their back. It is not because they love them or don’t feel the pain yet it is simply they [Ethiopians] drop their ball some where on the road. Corruption only prevails in a corrupted society. I am here to tell you just that. In the past 20 years, Ethiopians suffered more than Libyans & Egyptians combined, however they are still waiting some imaginary power to intervene and save their sorry behind. If you observe the streets of Addis Ababa, it is filled with gut less Khat generation with no vision to emancipate its soul from these venomous bugs. Some how they manage to loose their God given conscious to their cheap and half survival.
ENTRY VISAS ABOLISHED BETWEEN SUDAN AND ERITREA
http://tesfanews.net/archives/2048
Are they heading for some kind of integration or it is a propaganda stint.
Avoiding trade barriers and allowing free movement of people and trade will definitely ease the inflation in their respective country and help grow their economy. What about our Maverick, Voodoo Economist Leader Legese Zenawi learn from this achievement. Of course he will send a delegation to Khartoum very soon and complain for this historic agreement.
Congratulation Eritrea and Sudan
Few individuals that are the owner of the system gained enoromous wealth at the expense of millions of Ethiopians.
Woyanes invaded Ethiopia making money as primary mission.They then created two economic systems;one for themselves and another one for Ethiopians.For the last tweny years the real winners have been the very few men and women surrounding Meles Zinawi and his wife,Azeb Mesfin;not Ethiopians.Ethiopians’ cumelative gain from the economy growth is zero.
Society creates wealth not individuals like Azeb Mesfin who parasitically gained wealth through corruption and stealing.Production of goods and services are the real economy,but major manucturing industries,finacial and service sectors,transportations,and other business sectors are owned,controlled,and run by the minority rulers.Meles Zinawi is a protectionist because he protects market share against Ethiopians.This is antisocial conduct {murder,robbery,unfairness,corruption,control business through protectionism against Ethiopians,and fraud} that has been inplace for the last twenty years with Meles Zinawi as a referee.
Today,Meles Zinawi and his wife,Azeb Mesfin, and their close relatives and friends are both rich and wealthy:-Comfortable homes,aboundant wealth,recreation and entertainment,health and longevity,but please,compare it with those of millions of Ethiopians who can’t aford Asprine and Bread.
Is this the liberation from poverty , an economic miracle? This is a robbery committed by the Woyane government . Our money is washed away by inflation. We have worked very hard to save this money for our future plans. Our life is totally ruined, we will not have good future if the Woyane remains in power. But now we have a glimmer of hope, the time of our liberation is not far.
The result of dumb Woyane bandits! Ignorance, betrayal, and crimes against humanity is their expertise…nothing else!