Only few countries have endured continuous and crippling high inflation rates like Ethiopia has in the past 15 years. The average annual inflation rate in this period was 16.4Pct and peaked above 20Pct in 2008, 2011, and 2020. Recall that when inflation spiked in 2008, food prices in Ethiopia rose by a staggering 92Pct within a single year.
Over the last 12 months alone, general and food inflation rates rose by 20.4Pct and 23.1Pct, respectively, according to the Central Statistics Agency.