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Ethiopia Inflation Eases

FILE: An employee fills a car at fuel station in Addis Ababa, Ethiopia, on July 6, 2022. - Fuel prices soared in Ethiopia on July 6, 2022 after the government reduced subsidies, adding to economic hardship for people already struggling with high inflation.
FILE: An employee fills a car at fuel station in Addis Ababa, Ethiopia, on July 6, 2022. - Fuel prices soared in Ethiopia on July 6, 2022 after the government reduced subsidies, adding to economic hardship for people already struggling with high inflation.

Ethiopia's inflation decreased in August compared with a month earlier, helped by a slower rise in food prices, data from the country's statistics office showed on Monday.

Consumer inflation fell to 32.5% year-on-year in August from 33.5% a month earlier, the Ethiopian Statistics Service said in a statement.

Overall month-on-month inflation fell to 2.9% from 3.1% in July.

The statistics office said food inflation dropped to 33.2% year-on-year from 35.5% in July, while non-food inflation rose to 31.5% from 30.4%.

Several factors were involved in the price easing: A fall in international oil prices, along with a similar easing of food commodities - especially after Russia and Ukraine agreed to allow grain shipments from Kyiv's Black Sea ports.

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