Ethiopian inflation rate hits 34.8 percent in September

Ethiopia’s inflation rate rose to 34.8 percent in September, up from 30.4 percent in August, Ethiopia’s Central Statistical Agency (CSA) disclosed on Tuesday.

CSA also disclosed the inflation for food items reached a record high of 42 percent in September.

The steady increase in the rate of inflation in Ethiopia is happening despite local and federal authorities’ efforts to control inflationary pressures through administrative actions.

The recent administrative actions taken by Ethiopian authorities include the introduction of a temporary price cap for food items as well as a three-month ban on rent increase by landlords.

On Monday, Ethiopia President Sahle-Work Zewde said the government will focus on addressing the escalating cost of living which has seen the price of some essential food items increase by severalfold in recent months.