The prices consumers pay for widely used goods and services rose by 19pc in November, according to the latest report from the Central Statistical Agency (CSA). The year-on-year inflation rate showed a 0.3-percentage-point dip compared to the previous month.

Measured by the Consumer Price Index (CPI), headline inflation indicates the cost of living by measuring the average changes in the price for a basket of goods and services that consumers purchase. The survey indicates that food inflation accelerated to 22.1pc, a percentage point slide from the previous month. In contrast, non-food inflation came in at 15.1pc, a bit higher than the rate registered in October.

Prices of some cereals showed a slight decline in the last month, and this has contributed significantly to the stabilisation of food prices, according to the Agency's report.

"Vegetables and some pulse types registered a decrease in their price," reads the report. "On the other hand, the rise in the prices of sugar, imported edible oil, potatoes and coffee has contributed to an increase in the rate of inflation."

Non-food inflation rose mainly due to a price hike for alcohol and tobacco; khat; housing repair and maintenance; energy; medical care; and gold, according to the report, which also indicated that the cost of transport dropped last month.

The month-on-month general CPI, which measured the price changes between October and November, has shown a 0.4pc increase.

Alemayehu Geda (Prof.), a prominent macroeconomist and university professor, disputes the credibility of the report. He argues that there is no way that the rate could have gone down last month since there were numerous reasons that could potentially have caused the pace to snowball higher.

The macroeconomist mentions the ongoing conflict in the northern part of the country, which has created uncertainty, leading people to purchase more; the imported inflation that is mainly driven by the continuous depreciation of the Birr against a basket of major foreign currencies; and the continuing effects of COVID-19 as reasons for higher inflation rate.