Inflation is slowing down in Ethiopia, reaching 34 percent in June 2022, the lowest in four-month, according to Ethiopian Statistics Service (ESS).
Fall in price of major food commodities contributed for the deceleration. Food inflation slowed from 43.1 percent to 38.1 percent. The non-food component remain unchanged at 28.4 percent.
In double-digit for the last four years, inflation has been a great challenge for policymakers. An attempt to decelerate the pressure by introducing several administrative measures bore no fruit.
The latest slow down is an outcome of slight improvement in supply of basic goods, including edible oil and wheat, and the fall in depreciation of birr against major baskets of foreign currencies.
The 12-month average inflation is still the highest in over a decade, becoming a major cumbersome for officials that have been trying contain the living cost in single-digit.
Ethiopia has been holding the third top spot among African inflationary economies ranked in the latest report of the International Monetary Fund released a month ago.
