- By Xinhua
(Xinhua) — Ethiopia’s inflation rate rose to 34.7 percent in March, up from 33.6 percent in February, according to the latest data released by Ethiopia’s Central Statistical Agency (CSA).
CSA also disclosed the inflation rate for food items reached 43.4 percent in March, the highest in several years.
“The non-food inflation reached 23.5 percent in March, a slight increase from February when it stood at 22.9 percent,” the CSA said.
The steady increase in the rate of inflation in Ethiopia is happening despite local and federal authorities’ efforts to control inflationary pressures through administrative actions.
The recent administrative actions taken by Ethiopian authorities include the introduction of a temporary price cap for food items as well as a three-month ban on rent increase by landlords.
Curbing the soaring cost of living and stabilizing the food market were among the major issues Ethiopia’s ruling Prosperity Party (PP) discussed during its first congress meeting held last month. Enditem
