Ethiopia: Prices of imported goods skyrocketing, inflation at 8.2%


ESAT News (January 5, 2017)

The foreign currency crunch in the country has resulted in a surge in the price of imported goods, according market analysts.

Businesses also reported a deep decline in the amount goods imported from abroad due to the severe shortage of foreign currency.

The regime is forced to import only essential items such as medicines while other items are imported on a case by case basis.

Long queues are now a regular scene in the capital at sugar and oil outlets.

The Ethiopian Statistics Agency meanwhile says inflation has risen to 8.2% from 8.1% last month.

The government denies there exist an economic crisis due to the foreign currency crunch.