ADDIS ABABA (Reuters) - Ethiopia's annual inflation rate remained stubbornly high at 20 percent in July, data showed on Tuesday, though the pace of increase in food prices slowed marginally.
Surges in global oil prices and poor harvests have driven inflation into double digits in several African countries in the past year.
The International Monetary Fund says that is the biggest challenge facing policymakers in the Horn of Africa country, which has however registered one of the highest economic growth rates in the world for the last few years.
Officials expect gross domestic product growth of 11 percent for 2011/2012, which ended in June, according to government figures, thanks to rising agricultural output, the seventh consecutive fiscal year of growth.
The year-on-year inflation rate eased in July from 20.9 percent in June, Ethiopia's statistics office said.
Food inflation dropped to 20.7 percent from 21.5 percent and non-food inflation to 19 percent from 19.8 percent.
Month-on-month prices were flat for the third consecutive month.
High coffee earnings in the past few years have boosted the economy of Africa's biggest coffee producer, as have rising gold, oil seed and livestock exports.
Ethiopia is also the world's fourth-largest sesame exporter after China, India and Myanmar.
#1 | Wholesale NFL Jerseyson August 08 2012 00:35:14
The party’s need to maintain stable ruleWholesale NFL Jerseys over an increasingly vocal military is one reason Mr. Hu, its top civilian leader, is expected to hold on to his position as chairman of the Central Military Commission for up to two years after he gives up his party chief title in the fall, according to people briefed on political discussions. His anointed successor, Xi Jinping, would still take over Mr. Hu’s posts as head of the party and head of state, butWholesale NFL Jerseys would have to wait to become China’s military boss.
#2 | louis vuitton outleton August 08 2012 23:34:18
it seems that Somalia is heading back to 1991 the bloody civil war I think people have mistaken of electing xasan culusow gurguurte a man who always smiles with or with out a reason but behind the smi
godey gacalo
08/06/2013 05:58
There are a lot of GOOD people in this world who are trying to clean things up. But unfortunately, there are still some who would prefer to just keep ROLLING IN THE DIRT
Kismaayo
04/06/2013 09:40
War deg deg Ah - bare HIIRAALE. oo u geeriyoodey. dhaawac bam oo caawa lagu turey gurigiisa
samira
02/06/2013 07:40
kkkkkkkkk runti waxan moda madaxwaynaha in qabil lo doortay maxa yelay bulshadina madax ayu isku galiyey wax xal dadwanaha ugu jirana kam talinayo tankale intu kismayo so firinayo bal muqdisho ha xore
Goora Qubi
26/05/2013 10:01
Fikir ahaan
waxaa baryahan soo badanaya hadal haynta aan anigu karhay oon jeclahay bataatanba in lajoojiyo waxaan ogsoonahay in ay dhamaatay sheekadii al itixaad taasoo dad badan ilaa hada hadal haya
Goora Qubi
26/05/2013 09:57
Fikir ahaan
waxaa baryahan soo badanaya hadal haynta aan anigu karhay oon jeclahay bataatanba in lajoojiyo waxaan ogsoonahay in ay dhamaatay sheekadii al itixaad taasoo dad badan ilaa hada hadal ha
waxaan idinku hambalyeynayaa sida habsamida leh ee akhbaaraad caalamka iyo midda aniga aan aad u daneeynayo ee ogaden aad noogu soo tabisaan well done guys
onlf will Go to ICC
28/04/2013 16:51
Ogaden Land is the land situates Southeast of Ethiopia , no matter what western people believe that there are strategic aims which they are seeking to invade our territory.
Ethiopia is our land and
cartedsiudnw
28/04/2013 15:52
Il a ete reanime par le cuisinier du college, Le president cubain Raul Castro a ete reelu dimanche a la presidence du Conseil dEtat, La famille du champion handisport explique que le compte twitter
mens gucci shoes
19/04/2013 20:50
This is a very good article, well written, everyone wants to write a good article,
to write a good article for others is a progress test, write some articles on
their own and other people is a goo
