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.


Ethiopian Seafarers Contribute $50m Annually in Remittances

Ethiopian Maritime Authority disclosed 50 million dollars in annual remittances from seafarers deployed internationally. Abdulber Shemsu, the director general of the Authority, said Ethiopia's membership in the International Maritime Organisation (IMO), establishes global standards and guidelines for safe, secure, and environmentally sustainable shipping practices. With 176 member countries and three associate member countries, including Ethiopia, the IMO provides a framework for ensuring...


AfDB Launches $1.5m Initiative to Propel Agro-Industrial Parks

A 1.5 million dollar initiative for the development of three Agro-industrial parks was commenced last week. Financed by the African Development Bank (AfDB), the project includes feasibility studies, a master plan, and an environmental and social impact assessment. The Phase Two project, which includes capacity building for stakeholders, was initiated last week with an agreement between Semereta Sewasew, state minister for Finance and Gunther Beger, managing director of UNIDO. Semereta said...


Cabinet Approves Public Service Legislation

Council of Ministers has unanimously approved the legislation that aims to raise the competency and professionalism of public service in the country. The Federal Civil Servants Proclamation is pending ratification from Parliament. The decision was made during the 30th meeting of the Cabinet last week, which follows the ratification of the public service and administrative policy. Currently, the 176 federal agencies within 22 ministries, collectively employ around two million people. The polic...