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Ethiopia inflation drops to 15.8% - CSA
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.
Well that seems good news, but some times officials should know that they shouldn’t offend the public with this kinds of ridiculous news . the fact is obvious. It is out of any kinds of economics theory to try to convince people that you have 11% growth rate with 15% inflation rate in the same country where there was 30% inflation rate with 10% growth. Let us talk seriously, is it because you changed the basket of commodity on the Consumer price Index calculation or is it your are lying. It is us who are living the life in Ethiopia. Is it because the CSA people getting their household items from the government subsidize value. or is it because you took the data from Kebele’s food distributors. Seriously, ….By the way that is why i watch ETV only when there is football match.
Ethiopia is moving ahead on all fronts except inflation and this news will make GOE performance perfect
Some people complained by using Central Statistics Agency data when inflation was 40 percent and now they claimed that CSA data is not correct because they don’t want to hear positive news
thankyou the wise government of ethiopia and the hard work of ethiopian farmer and agricultuer engineers.
@sami , just take econ 101, that will help i think. you shouldn’t applaud for every message that the govt published. The government will get strong and wise when it is willing to accept the criticism from the public it serves through which it will make itself democratic and strong. Don’t forget as our former PMS said still 50% of the Ethiopian those who elected in the previous election didn’t support EPRDF. So whether you work some where in govt or not, you should be willing to accept criticism. We also know our life ( if you are living in Ethiopia) you know it. Most importantly we know how these data collected. I know people in the CSA doesn’t want to tell bad news to the top officials so that they always deflate the number in any possible ways…but for your information I want hear every good thing about Ethiopia.But my intuition will not accept this kinds of ….cooking.
Let’s hope we keep it like this for a while even lower.
stop printing money like toilet paper.
Stop borrowing money like there is no tommorow.
Stop harrassing the private banks like old style chicago gangs.
Give private businesses more breathing room to grow.
Likely, the cause of inflation in Ethiopia are two sources:
1) Money circulation. Most people don’t have money but few held an excess of it. This led to unemployment because of unequal money circulation.
Gov’t have to pay every worker either through gov’t, company or private employment. Then, gov’t should collect more money from rich like tax and also tax those worker. Whatever means gov’t must make sure that more workers should be employed and paid. Then in turn those workers will led there live by expending on necessity of life: house, food, cloth etc. Then gov’t must collect back most of those money. In general, money should not be a constraint at all rather a lubricant. Finally, people led their live without much saving. That is how it work in developed countries.
2) An export agricultural goods must be different from goods that meant for domestic consumption. This distinction is not necessary in quality but by trade mark!! Then, commodities meant to be exported should be valued properly. For example, when teff to be exported, since the production of teff takes water, the teff to be exported include water export. This means the price of teff to be exported (as market by trade mark) must be very high. This will decrease demand for teff by importer (mainly immigrants ). This increases teff availability for domestic consumption, by default it will be much cheapest for them. Finally, commodity price will be lower and inflation too.
Most understand about globalization and free trade issues. As I tried to explain above, gov’t never bring trade barriers but has right to get a right value for the commodities.
Have you seen a drank Ethiopian beggar (lemange) sleeping in the middle of road in Addis stretching his bare feet wide lying there with no fear? And those who see him laughing like if there is no tomorrow, and that is exactly what I feel whenever I see this ridicules weyannes false inflation statistic . Deflation is stretching it’s feet wide open ppl.to lought at ,with worthless currency not even good for toilet paper. $1 dollar. 20 birr. a single toilet paper costs more than one dollar,why bother buy it when you have a dirty ,smelly weyanne birr to use it as a toilet.
In today’s weyanne Ethiopia beggars refused to take dirty Birr unless it is new or they ask you to give them in Visa card or American Express.
“Some people complained by using Central Statistics Agency data when inflation was 40 percent and now they claimed that CSA data is not correct because they don’t want to hear positive news.”
That is superb observation, wow!
They accepted CSA when the news were negative but, now are questioning the genuineness of the information when it is positive, wow! what a demon is this?!
Brother if you seat down and watch this people you will be doing an identical characterization of Iago as in the Great Shakespeare’s play Othello lol
C’est moi senait,
You are right on exchange rate: 1$ about 18 birr. For now, This issue is beyond gov’t control because it is global effect whereby gov’t has insisted to pay more to get a foreign currency. This is related with investment activities. This is how foreigners take more of your money through exchange rate and give you back less of it in the form of loan, aids. This is simply a form of colonization but I doubt how far this influence will continue. It is just like the relationship between landlord and tenants of a long period ago whereby farmers produce all and give to the landlord about 3/4 of the product. The landlord is getting simply s/he possessed the land but we know that the land is a gift from God. Likewise, some countries have authority to control money across globe. They are taking more money because of this.
Please understand me that I am trying to give an awareness for some but I know that some of you know very well.
Another bad news for Idiots in the diaspora. This indicates us Ethiopia is governed by the right party…
13.2 percent is a very large percentage. For instance, easily 99 percent of the Ethiopianpeople want a roof over their heads, food on their tables, and the occasional slice of cup cake for dessert. Surely an arrangement can be made with that niggling 1 percent who disagree.but there is no any Government in the country tha is big problem
The way I understand inflation :-
Cement price were 500 birr but Al Almoudi change that by starting brand new cement factory with in a day The price of cement fail to 200++ birr. So this telling us we need the rich to narrow the gap between rich and poor by providing more work and introducing new technology…this lead to lower inflation
@sami du think we accepted the 40% inflation rate reported by CSA. did u forget that by then it was around 65% seriously. But at that time one of the most funny thing about them was that they were “the only government who boldly reported a 40% inflation rate with proud” so …..i am tiered of those kinds of asmesaye people in Ethiopia.
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