Bloomberg News

Ethiopian Inflation May Fall Below 10% by November, Meles Says

April 17, 2012

Inflation in Ethiopia is expected to slow to less than 10 percent by November, Prime Minister Meles Zenawi said.

The annual inflation rate in the Horn of Africa country dropped to 32.5 percent in March from 36.3 percent in February, according to data released by the Central Statistical Agency last week.

“In the next coming months, this trend will continue,” Meles told lawmakers today in Addis Ababa, the capital. Inflation “will reach the goal of single figures” by November, he said.

Ethiopia’s central bank stopped lending to the government to help curb inflation, Meles said.

To contact the reporter on this story: William Davison in Addis Ababa via Nairobi at pmrichardson@bloomberg.net.

To contact the editor responsible for this story: Paul Richardson in Nairobi at pmrichardson@bloomberg.net.


Burger King's Young Buns
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus