June Headline Inflation Registers at 34pc, Food Inflation at 38pc

July 17 , 2022


June Headline Inflation Registers at 34pc, Food Inflation at 38pc

Year-on-year inflation, which has clocked in at above the 30pc mark for 11 consecutive months beginning last August, registered at 34pc last month. It represents a decrement for the first time since February 2022, according to the Ethiopian Statistics Service. Food inflation registered at 38.1pc in June, six percentage points lower than the rate recorded in May. Non-food inflation sat relatively unchanged at 28pc. The Service reports headline inflation averaged 33.7pc over the 2021/22 financial year. The figure for average annual food inflation was a little over 40pc, nearly double the rate recorded the year prior. Inflation is likely to spike in the coming months as a result of government policies, including the progressive lift of fuel subsidies that began a few weeks ago. Retail prices for a litre of benzene have spiked to 47.83 Br at pumping stations, up nearly 30pc. Diesel soared by 40pc to 49.02 Br a litre.


Radar

MAGNETIC FREE TIME

Many children could be seen on the streets of Addis Abeba in the business of weighing people using portable scales. But it is a job with much free time. One kid has attached a rope to a piece of magnet to collect materials with iron without having to bend...


Radar

NEW GEAR

Guests, including Asfaw Alemu (centre), president of Dashen Bank, and Samuel Tafesse, real estate mogul, are shown the new Nissan Navarro pickup vehicle at Nyala Motors showroom on July 30, 2022. Despite a foreign currency crunch, the car market is hot, with sellers boasting lots at full capacity...


Radar

UNSIGHTLY SUBURB

In an area around Goro, along the Yerer road, are discarded plastics that have been collected over time, and other refuse, making the neighbourhood smelly and unsightly. Yet the urban sprawl continues, with expensive villas rising up and transforming the neighbourhood into a suburb...