In March 2022, the year-on-year general inflation rate in Ethiopia increased to 34.7 percent, after reaching 33.6 percent in the previous month.
“The month-on-month food inflation rate for March 2022 increased by 1.5 percentage point compared to the preceding month of February 2022. During a similar period, the non-food inflation rate decreased by 0.6 percent,” the Central Statstics Agency said in its monthly report released this week.
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In the current month cereals showed an increase in most cases. Vegetables also showed a slight increase. Rice, Teff, Wheat, maize and Sorghum showed an increase in most cases. In addition, Milk, Cheese and Eggs, and Spices (mainly salt and Pepper) slightly increased in the current month. Cooking Oil and butter prices also increased rapidly. Coffee beans and non-alcoholic beverages prices have also increased continuously.
The Non-Food inflation showed an increase of 23.5 percent in March 2022 as compared to the one observed in March 2021. The rise in Non-food Inflation in the mainly due to continuous rise in the prices of Alcohol and Tobacco, Stimulants (Chat), Clothing and Footwear, Housing Repair and Maintenance (House rent, Cement and Corrugated Iron sheets), and Energy (Firewood and Charcoal), Furniture and home furnishings, Fuel, Medical care and Jewelry (Gold).
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12 months Moving Average Inflation at Country Level
“The country level overall inflation rate (annual change based on 12 months Moving Average) rose by 30.3 percent in March 2022 as compared to the one observed in a similar period a year ago. The country level food inflation increased by 36.4 percent as compared to the one observed a year ago. The country level Non-food inflation rate increased by 22.3 percent in March 2022 as compared to the one observed in March 2021. The 12 months moving average inflation rate shows the longer-term inflationary situation,” the report said.
The month-on-month general CPI for March 2022 has showed an increase of 4.0 percent and the food CPI increased by 4.3 percent as compared to the preceding month of February 2022. During the same period non-food CPI showed 3.4 percent increase. The monthly inflation rate measures the price change between the two latest months. Although up to date, it can be affected by seasonal and other short-term effects.