10 July 2012 [ESAT]
Inflation in Ethiopia fells to 21% in June from 25.5% in May on a 12 month basis, said the Central Statistic Agency on Monday.
According to the Agency the 4.4% decline in inflation in June was as result of a drop in food prices, which was the major player for inflation. However the inflation figure for the non-food items remained unchanged at 19.6% for the month.
The Ethiopian government had promised to bring down inflation to a single digit by this month. Much to the public’s chagrin, the official inflation figure still stands in the lows of 20s. Recently the Prime Minister, in his parliamentary question and answer session, postponed the delivery date of his promised single digit inflation figure for November of the next Ethiopian fiscal year.
Ethiopia`s inflation figure still stands to be the second highest in the world.