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HomeLocal NewsGovernment, private sector trying to control inflation with bazar, Sunday market

Government, private sector trying to control inflation with bazar, Sunday market

Aimed to stabilize the high rocketing inflation in the city, three different schemes started to be applied by different organizations including the city administration.
The scheme called Sunday market started last Sunday October 31, 2021 by the Addis Ababa City Administration has facilitated the market to be directly from the manufacturer to consumer.
On Monday November 1, 2021 Black Purpose Ethiopia which is a dynamic business established to offer an economic solution with an end-to-end product-to-consumer, officially started selling its products directly from the farmer to the consumer using trucks named “Qeleb Kegeberew”.
Additionally, on Wednesday, Jorka events opened a bazaar named “Asbeza Bazaar” which stays for five days and continued to be held every two month for a year. As the organizers said the consumers get different products with 30 percent discount from the market. All the three organizations has partnered with manufacturers and cooperatives to provide products with low price to stabilizing the market for the end consumers.
The city administration has started Sunday market on 5 selected areas Jemo Condominium, in front of Kaliti transport Station, Megenagna Bole Sub-City Headquarters, Mexico (Total gas station), and Piassa.
Food and related product producers and importers will supply their products at factory prices in the bazaar, Oil, Teff, Pasta, Flour, Garlic, Eggs, from manufacturers will be available at discounted prices.
These schemes in the city are said to be the beginning of a long way to reduce the cost of living and the bad market chain.
Addis Ababa City Administration Trade Bureau stated that the five selected areas of the city where the Sunday Market happens will expand to 20 areas around the city.
These products have seen a slight reduction in prices from the regular market and that there are efforts being made to reduce prices by up to 50 percent from the market price.
The continued increase in the price of food items in the market has contributed to an increase in the rate of inflation. On the food-items, even if the government is working aggressively on the domestic production of items such Teff and wheat, the market is going up day by day.
According to the latest report of the Central Statistics Agency the September 2021 Country Level Consumer Price Index has increased by 34.8 percent.
The year-on-year food inflation increased by 42.0 percent in September 2021 as compared to the September 2020.

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