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Ethiopia's inflation quickens to 35.1% in December

Credit: REUTERS/Tiksa Negeri

Ethiopia's inflation rate rose in December, thanks to price pressures accompanying the holiday season, the statistics office said on Monday.

Adds details, background

ADDIS ABABA, Jan 24 (Reuters) - Ethiopia's inflation rate ETCPIY=ECI rose in December, thanks to price pressures accompanying the holiday season, the statistics office said on Monday.

The Central Statistics Agency said in a statement inflation accelerated to 35.1% year-on-year from 33% in November, while on a monthly basis, inflation was 1.4% from -0.6% the month earlier.

"The month of December is a time of celebrating Christmas and a price rise situation is usually expected," it said.

The data release was delayed for over two weeks. The statistics office said on Monday the delay was due to technical reasons.

Fighting erupted in November 2020 in northern Ethiopia between the national government army and forces belonging to the Tigray People's Liberation Front.

The World Food Programme estimated in early December that 13.6 million people were food insecure in Ethiopia because of the extended impacts of conflict, drought, flooding, desert locust invasions, market disruptions, high food prices and the COVID-19 pandemic.

Last month, Ethiopia proposed a 122 billion birr ($2.5 billion) supplementary budget to fund and rebuild areas destroyed by war and provide humanitarian assistance.

(Reporting by Nairobi Newsroom; Writing by George Obulutsa; Editing by Kim Coghill)

((george.obulutsa@thomsonreuters.com; Tel: +254 20 499 1234; Reuters Messaging: george.obulutsa.thomsonreuters.com@reuters.net))

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