Tigrai Online, July 09, 2012
Ethiopian inflation keeps falling down month after month.
Ethiopian inflation keeps falling down month after month. In June 2012 it fell to 20.9% from 25% in May 2012 crumbling down for the fourth straight month the Ethiopian Central Statistics Agency reported.
Food prices also showed marked decrease in June 2012 they fell to 21.5% from 29.2% in May of this year.
The year on year inflation rate in Ethiopia is expected to keep falling till hits single digit figure in November 2012. It had reached 32% in February but, it has been steadily falling down since March.
The overall Ethiopian economy is growing in an amazing speed making Ethiopia the fastest growing non oil economy in Africa. The economy is expected to grow 10 to11% this year.
Ethiopia is simultaneously building mega hydroelectric power dams, Sugar factories, Cement factories, Train rails, and Universities as part of the Transformation and Growth Plan.