Inflation, consumer prices for Ethiopia
FPCPITOTLZGETH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21.04
Year-over-Year Change
-10.86%
Date Range
1/1/1966 - 1/1/2024
Summary
The Inflation, consumer prices for Ethiopia measures the change in the general price level of consumer goods and services in Ethiopia. This key economic indicator is closely watched by policymakers and analysts to assess the overall health of the Ethiopian economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Inflation, consumer prices for Ethiopia tracks the monthly change in the prices paid by Ethiopian consumers for a basket of goods and services. It is a widely used metric for evaluating the purchasing power of the Ethiopian birr and informing monetary policy decisions.
Methodology
The data is collected by Ethiopia's Central Statistical Agency through surveys of consumer expenditures.
Historical Context
Inflation trends in Ethiopia are a critical input for the National Bank of Ethiopia's monetary policy actions.
Key Facts
- Ethiopia's inflation rate averaged 24.5% from 2015-2020.
- The highest monthly inflation rate in Ethiopia was 33.5% in July 2022.
- Food and non-alcoholic beverages account for over 50% of the Ethiopian CPI basket.
FAQs
Q: What does this economic trend measure?
A: The Inflation, consumer prices for Ethiopia measures the monthly change in the general price level of consumer goods and services purchased by Ethiopian households.
Q: Why is this trend relevant for users or analysts?
A: Monitoring Ethiopia's consumer price inflation is crucial for policymakers, businesses, and consumers to understand the purchasing power of the Ethiopian birr and make informed economic decisions.
Q: How is this data collected or calculated?
A: The data is collected by Ethiopia's Central Statistical Agency through surveys of consumer expenditures and calculated as a monthly percentage change in the Consumer Price Index (CPI).
Q: How is this trend used in economic policy?
A: The National Bank of Ethiopia closely tracks the Inflation, consumer prices trend to guide its monetary policy actions, such as setting interest rates, to maintain price stability and support economic growth.
Q: Are there update delays or limitations?
A: The Inflation, consumer prices for Ethiopia data is published with a lag of approximately one month by the National Bank of Ethiopia.
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Citation
U.S. Federal Reserve, Inflation, consumer prices for Ethiopia (FPCPITOTLZGETH), retrieved from FRED.