Ethiopia inflation falls to 6 pct in July

Addis Ababa, August 4, 2016 (FBC) -Ethiopia’s year-on-year inflation dropped to 6.0 percent in July from 7.5 percent the previous month, thanks to a drop in food prices, Central Statistical Agency of Ethiopia said on Thursday.
The year-on-year food inflation slid to 4.1 percent in July from 7.2 percent in June, according to the agency.

The July 2016 general year-on-year inflation has increased by 6.0 percent as compared to the one observed in July 2015. The year-on-year food inflation has increased by 4.1 percent in July 2016 as compared to the one observed in July 2015.

There was a slight stabilization of food prices in the month under review which has contributed to the lowering of the magnitude of the general consumer price index inflation rate.

The non-food inflation also increased by 7.8 percent in July 2016 as compared to the one observed in July 2015, mainly due to rise in the prices of clothing and footwear, construction materials, firewood and household goods and furnishings.