Ethiopia’s inflation rose from 5.9% to
7.1% in December 2014, the
statistics office said last week.
Prices for food, including
vegetables, sugar, and fruit, have
increased 6.5% last month, and
non-food items, such as clothes,
also became more expensive. The
higher prices in food and non-food
items may contribute to the jump of
inflation rate, said the Central Statistics Agency.
In 2011, the annual inflation rate reached 33.2%, according to the World Bank. In an effort
to lower inflation, Ethiopia’s government adopted prudent monetary and fiscal policies that
focused on reducing domestic borrowing and improving tax administration.
measures have effectively brought down inflation rate to single digits.
However, life is still very challenging for most people in Ethiopia, especially for about one
third of Ethiopians, who live under the poverty line. They are particularly vulnerable to the
sudden rise of food and fuel prices and inflation.
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