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From: Berhane Habtemariam (Berhane.Habtemariam@gmx.de)
Date: Wed Jul 13 2011 - 16:35:24 EDT
Ethiopia inflation reaches 38 pct in June
Tue Jul 12, 2011 4:19pm GMT
* Food main driver of the rise in rate
* Surging prices a challenge for much of Africa
(Adds quote, background)
ADDIS ABABA, July 12 (Reuters) - Ethiopia's inflation rate hit 38 percent in
June, up from 34.7 percent in May, driven by higher food prices, the
statistics office said on Tuesday.
The Central Statistics Agency attributed the jump to a rise in the prices of
wheat, maize, barley, meat and potatoes among other items.
"Year-on-year food inflation has increased by 45.3 percent in June 2011 as
compared to June 2010," the agency said in a statement.
Rising inflation has been a common problem for economies in the east and
horn of Africa this year, as poor rains have affected farming and as oil
prices have surged.
Ethiopia is poised for 7.5 percent economic growth this year, according to
the International Monetary Fund, which says surging inflation is Ethiopia's
main macroeconomic challenge. (Reporting by Aaron Maasho; Writing by Duncan
Miriri; Editing by Susan Fenton)
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