Tigrai Online Jan. 09, 2013
Ethiopian inflation dropped in December to 12.9 percent year-on-year, its lowest rate of 2012, official data showed on Wednesday.
The government had targeted single-digit inflation in 2012, something it now hopes to achieve this year.
Inflation, which has been billed by the IMF as the country's biggest economic challenge, peaked at 36.3 percent last February, and has steadily declined due to rising agricultural output and government subsidies on a number of food items.
Last month's year-on-year inflation fell to 12.9 percent from 15.6 percent in November, according to the Central Statistics Agency.
It said the consumer price index actually fell 0.7 percent month-on-month in December after a 0.5 percent drop in November.
The agency said food price inflation fell to 11.8 percent year-on-year in December, down from 13.4 percent in November. The non-food inflation rate also dropped to 14.6 percent in December from 19.4 percent the previous month.
Ethiopia's economy is expected to maintain a growth rate of 11 percent in 2012/2013, the seventh consecutive fiscal year of growth, according to senior officials.
Source: Reuters
Tigrai Online comment
Ginbot 7 (Birhanu Nega), Tamange Beyene, Abebe Gelebaw, ESAT basement TV and all the anti Ethiopian people are trying to stifle the Ethiopian development through different tactics of sabotage. Discouraging investors from investing in Ethiopia and asking Ethiopians to boycott successful Ethiopian companies like the Ethiopian Airlines is some of their failed tactics they are using.
Birhanu Nega and his prophets of hate also use denying any economic development by minimizing or completely falsifying it's existence to confuse Ethiopians. As far as they are concern, the Grand Renaissance dam is a fictional project only designed to stop Ethiopians from raising and joining the banana revolution.
Despite their sick stupid efforts, thanks to TPLF/EPRDF correct policy Ethiopia is in the right path to become a middle income country. Thanks to the thousands of Tigraian youth who paid their lives to bring about this change not only to Tigrai but to the whole Ethiopia.
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