Friday January 06 2017
Ethiopia Inflation Rate at 6.70 percent
Ethiopia's consumer prices increased by 6.7 percent year-on-year in December 2016, easing from a 7 percent gain in the preceding month. Cost rose at a slower pace for food and non-alcoholic beverages (+5.3 percent compared to 6.1 percent in November), clothing and footwear (+2.7 percent from +3.2 percent), restaurants and hotels (+8.7 percent from +9.1 percent), furniture and equipment (+5.7 percent from +6.9 percent) and alcoholic beverages and tobacco (+3.1 percent from +5.3 percent). Meanwhile, prices of housing and utilities grew at a faster pace (+14.5 percent from +12.7 percent). On a monthly basis, consumer prices fell 0.3 percent, compared with a 0.7 percent decline in November.