Inflation peaks a third higher than previous March


According to the Ethiopian Statistics Service’s monthly inflation data for March 2022, the general inflation has seen highs of 34.7 percent when compared to a similar period of last year.
During the month under evaluation, prices have been on a sharp rise and according to the report there has been a slight increase in the price of vegetables.
Teff, wheat, maize, beans, peas, shrimp and lentils and sorghum showed price increase in most cases, as, milk, cheese and eggs, and spices (mainly salt and pepper) cooking oil and butter slightly increased in the current month. In addition coffee beans and non-alcoholic beverages prices have also increased continuously.
On the other hand, the non-food index inflation in March 2022 has shown an increase of 23.5 percent. The rise in non-food inflation was mainly due to rise in the prices of alcohol and tobacco, stimulants (chat), clothing and footwear, housing repair and maintenance (house rent, cement and corrugated iron sheets), and energy (firewood and charcoal), furniture and home furnishings, fuel, medical care and jewelry (gold).
According to the report, the February 2022 country level CPI has increased by 34.7 percent as compared to March 2022.
The country level food inflation increased by 43.4 percent as compared to the one observed a year ago while non-food inflation rate increased by 23.5 percent in March 2022 as compared to the one observed in March 2021.
The total inflation in March 2022 stood 4.0 percent higher than in February 2022, while the Food index increased by 4.3 percentage points. At the same time, non-food inflation Increased by 3.4 percentage points.
Economists say a shortage of products, containers, rising shipping costs, the Western-led war in Ukraine and Russia, and subsequent rising oil prices, as well as food shortages for wheat and oil, are exacerbating global and domestic food prices.