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MARKET CHAOS

January 12, 2011

Markets all over the capital were filled with confusion after the government announced a price ceiling on 18 edible and non-edible items, with many more planned to follow. Having frozen prices without clearly indicating where in the market chain they apply, many consumers and traders could be seen arguing over the prices of items last week. Seen in the centre picture, Fitsum Tesfaye (left) and other consumers argue over the price of edible oil as Nuredin Detem, the shop owner, hides behind Fitsum while his assistant also stands back, on Thursday, January 14, 2011. Only five days after setting the price on a litre of edible oil at 16.50 Br, the Ministry of Trade (MoT) revised the price to be 21.60 Br, inclusive of VAT.

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