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Infilation in Ethiopia jumped 39.2 in July

August 9, 2011

Cigarettes and tobacco prices rose 44.8 percent, while transport and communication costs were up 44.3 percent, the office said on its website.

Rising inflation has been a common problem for economies in the east and horn of Africa this year, as poor rains have affected farming while oil prices have surged.

Ethiopia is set for 7.5 percent economic growth this year, according to the International Monetary Fund, which says surging inflation is the country’s main macroeconomic challenge. (Writing by Richard Lough; Editing by James Macharia, John Stonestreet)

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