Ethiopia’s Inflation Rises to 14.9% as Sugar Prices Jump Nearly 40%

Ethiopia’s annual inflation rate rose to 14.9 percent in September, up from 13.2 percent a year earlier, as higher prices for food and essential services continued to put pressure on consumer prices, according to the Ethiopian Statistical Service.

Food and non-alcoholic beverage prices increased by 14.8 percent year on year, while non-food inflation reached 15.1 percent, exceeding the overall rate, data released on October 15 showed.

Sugar, honey and chocolate recorded the steepest increase among the listed food categories, with prices rising 39.8 percent from a year earlier. Meat prices climbed 22 percent, while food products classified outside the report’s specified categories rose 19.1 percent.

Fruit prices increased by 18.5 percent, followed by oil and butter at 18.2 percent and milk, dairy products and eggs at 17.7 percent. Vegetable prices rose 11.4 percent, while bread and injera prices increased by 8.6 percent.

The non-food category also recorded substantial price increases, led by alcoholic beverages and tobacco, which rose 18.2 percent, and education, at 17.8 percent. Prices for other goods and services increased by 17.6 percent, while transport costs rose 16 percent.

Restaurant and hotel prices climbed 15.3 percent, health costs increased by 10.9 percent, and communication prices rose 9.6 percent, the data showed.

The September reading marks an increase of 1.7 percentage points from the same month last year, when headline inflation stood at 13.2 percent. The figures measure changes in consumer prices over 12 months rather than month-on-month movements.

The latest data show that price pressures extend beyond food to transport, education, hospitality and other services, although the report does not provide a breakdown of the contribution each category made to the overall inflation rate.

Source: FSX Business News