Inflation Dips Down to 19.2pc, Lowest in Three Months

May 8 , 2021


Year-on-year inflation showed a slight decline to 19.2pc last month, according to the monthly report released by the Central Statistical Agency. The rate is the lowest in three months and a decline from the 20.6pc rate registered during March 2021. The easing of the inflationary pressure occurred despite the strong increase in the cost of food and non-food items because of the busier market witnessed prior to the holiday season. Food inflation remained high, although it has declined from 22pc in March to 21.7pc last month. The recurrent increase in the prices of edible oil, butter, spices, coffee, and cereals has contributed to the surge in the price of food items. The non-food component of inflation declined by almost three percentage points to just 16pc in April 2021.


Radar

Historic Africa Hall's $57 million Renovation Eyes Tourists

The iconic Africa Hall, where the leaders of 32 African nations gathered in 1963 to establish the Organization of African Unity (OAU), the precursor to today's African Union (AU) was inaugurated after comprehensive renovation works at a cost of 57 million dollars. Initially designed by Arturo Mezzèdimi, a young self-taught architect, and constructed by Luigi Varnero to serve as the UN's continental headquarters, the hall now looks set to open to the public and add to Addis Abeba's touristic pro...


Radar

Investment Holdings Backs Electric Mobility with Battery Swap Stations

Ethiopian Investment Holdings has made its second joint venture with an electric mobility startup company to avail 100 battery swap stations in Addis Abeba within a year and expand to 300 stations over the next three years. The company, Dodai, plans to offer e-motor riders to quickly exchange depleted batteries for fully charged ones, lowering downtime and is expected to create 100,000 jobs for the youth. Brook Taye (PhD), CEO of EIH and Yuma Sasaki, founder and CEO of Dodai signed a Memorandum...


Radar

Expo Looks to Enhance Underdeveloped Agri Subsectors

A three-day agricultural exhibition assembling stakeholders from the poultry, aquaculture, apiculture, and livestock is set to kick off at Millenium Hall on Airport Road. Organised by Prana Events, the exhibition aims to promote commercial production, increase productivity and enhance the use of technology across the agricultural subsectors by bringing international and local traders together. Over 1,000 exhibitors from 14 countries are expected to attend the event. Nebiyu Lemma, managing direct...


Back
WhatsApp
Telegram
Email