Ethiopian inflation falls to 15.8 pct in October- Stats office

ADDIS ABABA | Mon Nov 12, 2012

Ethiopian Currency Birr

Nov 12 (Reuters) – Ethiopia’s year-on-year inflation rate dropped to 15.8 percent in October from 19 percent a month earlier, aided by a slowdown in the rate of food price rises, official data showed on Monday.

The Central Statistics Agency said that consumer prices in the Horn of Africa country inflation rate shrank to -0.7 percent from 1.5 percent in the month of September.

Food price inflation dropped for the eighth consecutive month to 13.2 percent in October, down from a revised 17.6 percent in September. The non-food inflation rate also slowed to 20.1 percent this month from revised 21 percent in September, the statistics body said in a statement.