Cost of Living Jumps to 22.6pc

Apr 4 , 2020


[ssba-buttons]

Headline inflation, an indicator of the cost of living, continues to spike and reached the highest rate in six years when it hit a rate of 22.6pc last month, according to the latest Consumer Price Index from the Central Statistical Agency (CSA). Driven by inflation in food prices, the rate has shown a 0.8 percentage point rise from the previous month. Last month, food inflation jumped close to two percentage points to 26.9pc, while non-food inflation showed a slight decline to 17.6pc. March's rate, which came out after Ethiopia confirmed its first case of the Novel Coronavirus (COVID-19), is the second highest jump in six years next to the 22.2pc rate that was registered in 2014. Except for wheat, the price of almost all cereals increased, especially that of teff, maize and sorghum, according to the report.


Radar

AMG Holdings Breaks Ground on Industrial Rail Link to Ethio-Djibouti Railway

AMG Holdings has launched construction on a 2.5-kilometer railway connecting its Sheger Industrial Park to the Ethio-Djibouti Railway's Endode Station. The Ethiopian-led project comprises 1.7 Kms of main track and 800 meters of side rail. Chief Project Manager Engineer Nigist Hailu said the line is expected to be completed within six months, facilitating the transport of raw materials and finished goods to Djibouti's port. More than 100 local workers have already joined the project, with addi...


Radar

Ethiopian Deposit Insurance Fund Achieves Full Q1 Collection Target

The Ethiopian Deposit Insurance Fund collected 2.08 billion Br in the first quarter of 2025. This meets 100 percent of the target and represents a 26.83 percent increase compared with the same period last year. The rise in premiums was attributed to higher deposits from member financial institutions. To date, the fund has collected a total of 15.93 billion Br in premiums from member institutions, with 14.51 billion Br coming from regular deposits and 1.42 billion Br from interest-free depo...


Radar

Oromia Bank, Ethiopian Airlines Introduce Fly Now, Pay Later via Milkii Digital App

Oromia Bank's Milkii Digital App, launched on May 3, 2025, has introduced a “Fly Now, Pay Later” service that lets customers book Ethiopian Airlines tickets using digital loans, with payments spread over six months after travel with 16.5 interest rate and allows customers to book flights upto 300,000 Br. Developed in collaboration with Ethiopian Airlines, the platform is part of a broader effort to expand digital finance and simplify access to services. The initiative seeks to enhance conven...