The year-on-year inflation rate in November reached 33pc, according to a report from the Ethiopian Statistical Service. Food inflation registered at 38.9pc while non-food inflation showed a 25.2pc surge from November last year. The previous month's headline inflation had reached 34.2pc while two months ago, the highest inflation rates seen in a decade were recorded. In September, food inflation surged by 42pc while headline inflation surged by 34.8pc. Last week's adjustment to fuel prices is likely to exacerbate inflation, as was evident immediately following the government's decision to raise petroleum retail prices at the beginning of the year.
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