January Inflation Rate Tops 34pc

Feb 12 , 2022

Headline inflation, an indicator of the cost of living, slowed down in January, reaching 34.5pc, according to the latest consumer price index from the Ethiopian Statistical Service. The rate is slightly lower than the headline inflation of 35.1pc recorded last December, the highest seen in nearly a decade. The report details that food inflation clocked in at 39.9pc while non-food inflation surged to 27.3pc. The Benishangul-Gumuz Regional State was worst affected, recording a 45.4pc annual increase followed by Harari Regional State at 41.7pc. Headline inflation in Addis Abeba sat at a little over 32.4pc, the second-lowest next to the Amhara Regional State.  Inflation rates have been inclining over the past couple of years, first hitting the 30pc mark last August. The report indicates that inflation rates in Tigray Regional State "remain the same." However, a report released by the United Nations Office for the Coordination of Humanitarian Affairs (UN-OCHA) last year identified hyperinflation in Shire and Meqelle. It conducted a rapid assessment beginning last June on ten household items including benzene, cooking oil, bread and salt. It reported that a litre of benzene increased 2,300pc to 600 Br in Meqelle, while the retail price of a litre of cooking oil quintupled in Shire, at 500 Br a litre.


High-Level Event Aims to Address Humanitarian Crisis

Development partners and government officials are expected to discuss improved humanitarian responses at a crucial event in Geneva, Switzerland this week. Co-hosted by the Ethiopian government and the UN Office for the Coordination of Humanitarian Affairs (OCHA), the primary goal is to secure pledges from both development partners and the government, according to officials. Millions face hardship due to conflicts, economic downturns, climate shocks, and disease outbreaks, according to a UN st...


Mastercard Announces Up to $2.5m Grants for Agribusinesses

Small and medium enterprises (SMEs) in the agricultural sector are poised for financial support as the Mastercard Foundation Fund pledges to award grants over the next three years. The Agribusiness Challenge Fund will award grants ranging from half a million dollars to 2.5 million dollars to qualifying businesses in Ethiopia and 19 other countries. According to Smita Sanghrajika, an engagement partner at the Foundation, agribusinesses have lacked the financial resources needed to scale up and...


Document Authentication Service Gets Fee Revamp

The Council of Ministers approved a new regulation for the Federal Document Authentication & Registration Service last week which introduces a two-tier fee structure for citizens and foreigners, with an overall increase. Beginning at 100 Br for citizens seeking document authentication for an assigning agency of single documents, the ceiling goes up to 500 Br while foreigners pay double these rates. Implementation of the new fees began this week. These changes come alongside a digitisat...