March 12, 2012 / 11:09 AM / 7 years ago

UPDATE 1-Ethiopia Feb inflation rises on food prices

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ADDIS ABABA, March 12 (Reuters) - Ethiopia’s year-on-year rate of inflation rose in February to 36.3 percent from 32 percent a month ago, official data showed on Monday.

Many countries in east Africa and the Horn of Africa are battling double-digit inflation after poor rain cut harvests and global oil prices surged.

In January, Ethiopia’s inflation dipped on the back of a drop in both food and non-food inflation, but this reversed sharply to send inflation higher in February.

Year-on-year food inflation increased by 47.4 pct as compared to February 2011, while non-food inflation increased by 21.4 percent as compared with the same period.

“In February 2012, increases were observed in the prices of cereals, pulses, vegetables, fruits and spices,” the agency said.

“Moreover, the non-food inflation also increased by 21.4 percent in February 2012 as compared to the one observed in February 2011.”

Consumer prices rose 2.7 percent month-on-month in February from 0.6 percent the previous month, according to the agency. (Reporting by Aaron Maasho; Editing by James Macharia)

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