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Ethiopia says annual inflation slows to 14.2%

06/23/09

Permalink 01:59:51 pm, by nazret.com, 159 words, 1816 views   English (US)
Categories: Business, Ethiopia

Ethiopia says annual inflation slows to 14.2%

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Fruits market in Ethiopia's Capital Photo jascabaco

Ethiopia says annual inflation slows to 14.2%

nazret.com - Ethiopia has announced that the annual inflation rate for May fell to 14.2% from 23.4% percent recorded in April. In July 2008, Ethiopia's inflation reached a record high of 64.2 percent largely driven by the high price of fuel and food.

Ethiopia Prime Minister has said the government's halt on borrowing and an increase in bank reserves helped control the inflation, Reuters reported. Ethiopian government has also instructed private banks in the country to restrict borrowing to fight inflation. The government hopes to reduce inflation to single digit by September.

Ethiopia's foreign exchange earnings from the export of coffee and horticulture have fallen due to the global crisis which dampened demand.

Last week the government announced that oil seed exports overtook coffee as Ethiopia's biggest foreign exchange earner in the 11 months to May. Ethiopia is Africa's biggest coffee exporter and the world's fourth largest exporter of sesame seeds.

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msg Comment from: Yeha [Visitor]
This is good news to all Ethiopians back home.That means Ethiopia is better than the U.S in terms of inflation slowsing down.

Well, the discareded diaspora once again may tell us vis versa business as usual story"Woyene did this Woyene did that etc, you never know with these people thinking.

Anyways, I wish Meles can stay five more years until Ethiopia fully developed for everything. Don't you love this guy? he is good isn't he?God bless him....Yeha
PermalinkPermalink 06/24/09 @ 00:10

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msg Comment from: EMAN [Visitor]
I think it's high time for all Ethiopians to think out side the box and get all their efforts to help get thier country out of abject poverty. This is a good news and people of the diaspora should encourage their families to invest in some thing in Ethiopia and bring an employment rather than send money every month. This would not only help the families but also the people sending themoney as they can focus on their day to day problems.
PermalinkPermalink 06/24/09 @ 01:58

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msg Comment from: Cher yesmagn [Visitor]
What an efficient government with high precession leverage to control macroeconomic parameters and with speed of light. It is just like opening and closing the water tab. open it you get higher inflation and then close it, not only you will get to control the inflation and lower it drastillcay, you will also magically neutralize the lagging effect of the policies you had when the water tab was wide open. I guess we should get a patent and sell these technologies to the world.
PermalinkPermalink 06/24/09 @ 02:42

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msg Comment from: Dave [Visitor]
EPRDF put several measures to tackle the inflation rate and it's nice to to see working them.

The poor G7 mafia group don't want to hear such good news.

kkkkk
kakaka --Zendro tekatelu!!!

PermalinkPermalink 06/24/09 @ 02:54

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msg Comment from: katikala [Visitor]
wishet
PermalinkPermalink 06/24/09 @ 03:49

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msg Comment from: ethiopia [Visitor]
That why we r proud of EPRDF.The party know what it is doing to change the country.Inflation is the comon phenomena in the poor ecconomy like Ethipia. But what make me happy is the insstruments used to control inflation.Like reducing bank borrowing,inreasing saving rate,increase production and build cusomer comfidence on market(reduce unnecessary specculation about increase price).

The government used all these instruments to reduce inflation from 60 percent to 14 percent. This is calculated by our HERO PM Meles zenawi before 1 year who gave his every things for Ethiopia. But genbot 7 tererrist leader make foul cray to distroy Ethiopia.

VIVA EPRDF. The future is bright with EPRDF for ETHIOPIA.

Thx NAZERET for posting the information
PermalinkPermalink 06/24/09 @ 05:16

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msg Comment from: balegoba [Visitor]
14% still too high for ethiopia where average wage for day laborer is 10 birr a day which is less than a dollar if employed, i say this because i saw road workers how much they are paid.
PermalinkPermalink 06/24/09 @ 08:02

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msg Comment from: dereje [Visitor]
this is good and hopefully it stays low.
PermalinkPermalink 06/24/09 @ 08:42

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msg Comment from: Kewle [Visitor]
The first indicator of a fall in inflation is not the government announcement of what percent it reaches, but the decrease in prices. From this point of view, not only those who live in Addis or rural areas of Ethiopia, but those of us who have family to support back home understands that the prices are still in rise. Please Prime Minister don't cheat yourself. Just talk the truth. Ethiopia is not the only country that suffers from the economic slow down. Please speak always the truth.
God bless Ethiopia
PermalinkPermalink 06/24/09 @ 08:48

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msg Comment from: Seleme [Visitor]


. . .halt on borrowing?. . .too late Mr. Crime Minister!. . . huge interests sucked us!. . .


. . .and to all puppets, cronies and confused supporters of this stupid PM;

listen, without us and without our foreign cash remittances, your greedy regime will not survive from their GREEDINESS!. . .



PermalinkPermalink 06/24/09 @ 09:43

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msg Comment from: c´moi senait [Visitor]
The weyannes and Hoddams economy is running out of BLOOD. They depends on Blood doners meaning the BEGGER org. like OXFAM and all these parsites NGO. 9 millions of ppl. are starving becouse of WEYANNES and HODDAMS economy policy. Beggerisem is in their Blood. How and when ethiopia get ride of these Begger self made Govt. is not going to take us long. they are counting their days....
PermalinkPermalink 06/24/09 @ 10:06

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msg Comment from: Dave [Visitor]
Thx EPRDF and PM meles Zenawi to slow down the inflation rate. The whole world knows he is all-round. That's why he is invited to attend the G8 meeting in Italy.
As usual 10 or 20 (maybe 10 times of this by VOA) supporter of the poor G7 mafia group will protest against him in Rome. " ERE SELAMWI SELF ENWETA GOBEZ kkkkk".

SERA FETE HULA BOZENE kkkkakaka



PermalinkPermalink 06/24/09 @ 10:45

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msg Comment from: Honest [Visitor]
Ethiopia!!

Unemployement +35%

Average Salary +/_250 ETB/month

Cost of Meal for one +40 ETB

Infalation at 14.5% Priceless!!!!

PermalinkPermalink 06/24/09 @ 11:28

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msg Comment from: balegoba [Visitor]
the price of some stuffs have come down by some percentage, some stuffs still rising, some stuffs have stayed where it was, this is because global demand has plummeted dramatically due to global economy crisis, in Us and Europe the worry is deflation not inflation, the government has exaggerated.
PermalinkPermalink 06/24/09 @ 11:28

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msg Comment from: zinstructed invstr [Visitor]
Did I read " The government hopes to reduce inflation to single digit by September."?
What is the difference between "planing" and hoping?

The meles look like very desperate...everything is against them.
I heard that the reduction of the inflation is caused by other factor.
No electicity in big cities where the meles bourgeoisie group leaves. So no cooking...no laundry...no festivity (asresh michiwu)...=no expenditure=fall of prices.
So the euphoria about this low inflation rate won't last long.
PermalinkPermalink 06/24/09 @ 12:29

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msg Comment from: Tekulaw [Visitor]
You know what? I am commenting on this article without reading the article. I have become so accostomed to the lies of the EPRDF that I do not have to read the article to tell that it is fool of lies. It is simply: Lie ....Lie....Lie...Lie

PermalinkPermalink 06/24/09 @ 13:31

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msg Comment from: anti-idiots [Visitor]
Tekulaw [Visitor
you said you are commenting without reading. that says it all, you are an idiot.
PermalinkPermalink 06/24/09 @ 14:32

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msg Comment from: yonas solomon [Visitor]
cost of meal $40. They must eat at one of the restaurants on bole road. PLease don't exaggerate...i was in addis last year. There are places you can for $200 and also once you can eat for $10.00 birr. Its all a choice!
PermalinkPermalink 06/24/09 @ 14:50

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msg Comment from: amanuel [Visitor]
selamawi selefe beneweta keingedih melesen lemedegef mehon alebet he is more than a B)leader for ETHIOPIA and AFRICA he is a worled class leader.
are you ready??????????
yessssss.
PermalinkPermalink 06/24/09 @ 14:51

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msg Comment from: KOKEB [Visitor]
ETHIOPIA

DO u ever wonder if there is another way to life than what u see in side WEYANE pupa?

Exactly a week ago on 06-16-09 The BBC news reported that the UNITED-NATIONS has warned that it has run out of food to provide for nine million ethiopians and prior to that the TPLF prattle lebas was e-meticing despite the highly falling of coffe price and the shortcoming of forigen currency to the country. Today, the EPRDF-lucifer by nick name of ETHIOPIA were telling us his nightmare of inflation adjustment by his retarded TPLF groups and the instrument they used like 1)reducing the nation capital reserve to zero, 2)increasing borrowing to WEYANE supporters 3)increasing the saving rate to TEGRAY citzens through EFFORT and other leba-organaizations,4)arrest the retailers and sabotaging the import/export of goods and services to the country such as BUNA. I feel sorry the iniquity and spiritual darkness that prevailed under the hornless midget is resulted at such kind of suppression and blindness to opportnist followers like the fool called himself ethiopia.

PermalinkPermalink 06/24/09 @ 15:48

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msg Comment from: Jordan [Visitor]
Oufff!!Temesgen Getaye!!!
PermalinkPermalink 06/24/09 @ 15:52

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msg Comment from: Masonic Habesha [Visitor]
Teklaw, commenting with out reading, thats like having sex with out a Rubber, you might get away with it for a while, but soon or later you will be burnt.

Words from the Wise
Fara:crazy:
PermalinkPermalink 06/24/09 @ 16:05

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msg Comment from: KOKEB [Visitor]
DAVE

Thanks to NAZ.COM for posting vitamin enriched organic fruits sold in my birth place town, ADDIS Whie too many WEYANE-PRINTED birr chasing to few goods and services through out the country, I love the city who founded deep down by AMLAK of EMYE MENELIK when it is shows off its richness, diversity and never require the residents to by a wasp net or hunt down locusts like other part of the country


PermalinkPermalink 06/24/09 @ 16:16

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msg Comment from: Baidoa [Visitor]
The source of this news is? Nazret.com.

Nazret.com, playing you for fool since 2005 :)

[It is actually Reuters reporting what the government is saying.]
PermalinkPermalink 06/24/09 @ 16:42

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msg Comment from: Yemayimesel [Visitor]
This is dream and fantasy of EPRDF Woyane. They are professional liars.
while they were in war with the Derg
regime they used to say we killed all
the soldiers in one Battle.everybody knows the real condition in Ethiopia is exposing them.
PermalinkPermalink 06/24/09 @ 17:42

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msg Comment from: Dere [Visitor]
We all know that the claim and forecast of GDP growth rate in Ethiopia is one of the endless and shameless lies by the terrorist TPLF. The fake GDP growth rate forecast is cooked by the top level TPLF cadres who graduated from dedebit desert university. The IMF more or less rubberstamps and echoes just what TPLF says without any validation, none whatsoever, through independent data gathering, analysis and conclusion. In its last forecast, however, the IMF could not take the ridiculously big time lie by the terrorist TPLF. Therefore, in order to save what is left of its credibility, if any, the IMF cut the TPLF's lie by half so that it wouldn't look completely absurd and off base given this time of economic difficulties throughout the world. TPLF has no boundaries for its lies and could not limit its lies of GDP growth rate to single digits. Why limit it to a single digit like 5, 7, or 9%? Once you lie, lie big. In fact, the core guiding principle of the TPLF is lie big and bold, and then keep repeating the lie shamelessly and you will find some gullible receptors for your lies down the road. Sometimes you might be able to bargain with the terrorist TPLF to bring down the fake statistics telling them frankly that what they are saying is totally nonsense and foolish. What you cannot do though, no matter what, is you cannot bargain with them to bring down the fake statistics of the GDP growth rate below 10%. The least they would accept is 10% no matter what the real data is or no matter what the reality on the ground is. They would not even accept '9.9% GDP growth rate'. A 10% growth is the least they can accept to match their malicious and mendacious propaganda of "double digit GDP growth". Terrorist TPLF accepts anything remotely close to a single digit only if you mention inflation right after it. While everybody knows the real inflation in the country is in more than quintuple digits, terrorist TPLF shamelessly lies that it is in single digits or it would be in single digits in the month we are winding down. That is what the terrorist-and-liar-in-chief Meles said a couple of months ago - single digit inflation in June 2009. There is also a limit you cannot bargain beyond for inflation rate just like for the GDP growth rate. Terrorist TPLF might accept anything as close to 10% as possible from the lower side like for instance 9.9999999999% but never top 10% inflation rate no matter what or no matter what the reality on the ground is. This is because if you get to 10% it would not match the shameless malicious mendacious propaganda of 'single digit inflation rate'. The only time they accept a 'double digit inflation' is , a big IF at that, only when the time line for bringing that double digit down to a single digit is given in the same breathe- like 'in June 2009' as the terrorist-and-liar-in-chief Meles said. The myth they want to create for themselves during their reign of rule of terror is 'double digit GDP growth rate and single digit inflation rate'. The main motive for such bold and shameless lies is clear to everybody. Terrorist TPLF has come to understand that there is so much the endless and shameless lies about the bogus democracy and sham election they have been orchestrating can do for them as far as hoodwinking the donor western countries is concerned. For terrorist TPLF it was about hoodwinking the donors and buying a day in power. For the donors though, it was about giving the terrorist TPLF the benefit of the doubt and also giving them sometime to get their acts together to do the right thing for the country. However, what has been observed in the last 18 years in Ethiopia is things are going from bad to worse by the day. The May 2005 sham election has exposed the true nature of the terrorist TPLF to the benefit of those donors who had not known it very well until then. At that point in time, the terrorist TPLF was forced to dismount in disgrace and great humiliation from the fake democracy horse it had been galloping almost freely. With that, terrorist TPLF had to also change the narrative and it came up with 'developmental state' mantra borrowing it from China and southeastern Asian countries. The 'developmental state' mantra was supposed apply to those states with real consistent 'double digit GDP growth rate and single digit inflation rate' over reasonable number of years. Terrorist TPLF is, therefore, cooking up these fake statistics in order to fit in this developmental state mantra. In the small ridiculous thinking of the terrorist TPLF ringleaders, once they create this buzz and fake image for themselves in the minds of the donors, these donors would continue to tolerate and look the other way when they commit genocide, war crimes and crimes against humanity; they ignore their untold dismal human rights records, intimidations, abuses, tortures, massacres, arbitrary detentions and all their excesses. The terrorist ringleaders would hope that once they create the false narrative in the minds of the donors, the latter would continue to provide the vital aid they need for their survival in power. In a nutshell, the latest desperate tactic of survival adopted by the terrorist TPLF is 'intensify the terrorism and draconian rule against the Ethiopian people but narrate boldly and shamelessly the fable about the double digit GDP growth and single digit inflation rates'. Sometimes even TPLF itself appears to be a victim of its own propaganda. Despite the shameless lie of the fascist TPLF and the echoing of the slightly modified version of the lie by its financier, the IMF, let us do the following. Let us assume for a picosecond (just for the sake of argument) that one of them is correct in the forecast - either IMF or TPLF (we however know very well neither has an iota of truth in the bogus claim, even the slightest, as far as the Ethiopian economy is concerned). If one is telling the truth, it means the other must be lying and we all know pretty well the usual suspect when it comes to shameless fabrications of lies after lies. Of course, the IMF is also guilty by association and deliberate negligence for the truth. If you look at the discrepancy between the two forecasts, it is over 100%. How come you have such a world of discrepancy if both are looking at the same real economic data? Even if they use entirely different models for the forecast, you cannot reasonably come to such a huge discrepancy. This confirms nothing but the fact that neither is basing its forecast on real data. The TPLF completely cooks the statistics solely for political motive and the IMF just echoes it. The only exception this time around being the IMF could not echo the lie AS IS in the face of the global economic downturn. BTW, the IMF does not gather independent data on its own for the economic activities of a country but rather uses whatever is forwarded to it by corrupt greedy dictators that have all the incentives to lie and lie big. By choice and with deliberate motive, the IMF gets 'swindled' by TPLF and the likes. Dere
PermalinkPermalink 06/24/09 @ 22:02

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msg Comment from: WEIMAR [Visitor]
The gorella economist meles is feels
and thinks all problems are like his shefta days, a matter of geting in and out of store, towns and what have you by a gun and then quick get away with a stolen ...!!
THIS WAS NOT AND IS NOT INFLATION IT WAS HYPERINFLATION!!!
Any casual observation of the global
economic crises due to globalization and narcotrafficers knows that!

WEIMAR GERMENAY HYPERinflation!

http://larouchepac.com/news/2008/01/28/fed-copies-weimar-hyperinflation.html
PermalinkPermalink 06/24/09 @ 22:06

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msg Comment from: ewnet [Visitor]
Please dear diaspora, don't try to be selfish. let's use banks rather than black markets to send maoney home. it may increase availabilty of dollar a little bit. Think about the burden you may load on poor people.
PermalinkPermalink 06/25/09 @ 05:24

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msg Comment from: IAM [Visitor]
Dear kokeb [Visitor]
A mid-level medical school drop-out who went wrong (literally, gone nuts) often maintains his rationally, humility, devotion, and dedication (that extends to even self-destruction), and even memory except his capability of ‘differential judgment’ to know the difference between ‘different’ and ‘similar.’ Here is how such a humble soul features in real life:
One day you tell him to mount/advocate [let’s say] an “Anti-abortion Campaign” [and knowing his ‘fool-proof’ warranty (after all, he’s a nuts!) to smash any law he likes without risking being jailed], you casually remark to express ‘everything in anti’ to everything to do with abortion. Being a humble and dedicated soul, he mounts his campaign immediately [none stop and by all means’s available] talking/writing/internet/etc. negatively to all things with the term “Anti” including [Anti]biotics, [Anti]inflammatory, and so on.
Blaming yourself for the serious flaws you made him commit [remembering your casual remarks], you set forth to systematically let him correct his mistakes by asking him [the next day] to mount a similar “Anti-Drug Campaign” [with no remarks]: So he goes on to post [Anti]tetracycline, [Anti]streptomycin, [Anti]Panadol articles (writing everything negative and spreading ‘Over the Hill’ fear to every bit of primary medication that comes to mind). After all, what makes him different is his inability to know the difference between ‘different’ and ‘similar.’
That is why, Dear kokeb, life (and the World for that matter) go so unfair on nuts; and so does Philosophy: “A nuts remains a nuts!” Now you got the idea and I think it’s a good start to up-grade the [narrow] ‘Anti-Woyane Campaign’ into an all-embracing and holistic ‘Anti-World’ one. GOOD LUCK AND GOD BLESS YOU!
PermalinkPermalink 06/29/09 @ 21:45

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