Ethiopia’s general inflation rate reached 33.9 percent in January 2023, a minor 0.1 percent increase from December, the Ethiopian Statistics Service (ESS) disclosed this week.
In its monthly report, ESS disclosed the main reason for the nearly unchanged general inflation rate for January 2023 was the small price decline in non-food items.
The ESS report disclosed that east African country recorded a non-food inflation rate of 34.4 percent in January, a 0.8 percent decline from non-food inflation rate from the previous month.
Nevertheless, the Ethiopian Statistics Service report disclosed that the food inflation rate for last month reached 33.6 percent. This is up by 0.7 percent from the December 2023 food inflation rate.
The ESS report attributed the increase in food prices last month to activities related to Ethiopian Christmas and Ethiopian Epiphany festival. The two religious festivals are held every year in in the month of January.