Cost of Living Ticks Down Slightly

Jan 11 , 2020

Headline inflation, the indicator of the cost of living, reached 19.5pc last month, showing a slight fall from the previous month. In November the rate hit 20.8pc, the highest figure in five years next to 22.2pc, which was registered in 2014. The rate had been steadily growing for five consecutive months until it showed a slight fall last month. Food inflation ticked down by almost by two percentage points in December to 22.7pc, according to the consumer price index of the Central Statistical Agency. The price of major cereals such as teff, wheat, maize, barley and sorghum has shown a decline compared to their prices in November, according to the report. "Other food items such as tomatoes, onions, potatoes, edible oils, milk and eggs also showed a declining trend," reads the report. Non-food inflation also registered a slight decline to 15.8pc from 16.4pc. In the reported month, price hikes in clothing and footwear, house rent, energy, health care and transport were observed. Over the past 15 years, the country has experienced average inflationary pressure of 15.5pc.