Admittedly, this is not the first time a steep rise in the rate of inflation has occurred in Ethiopia. The level at which commodity prices skyrocketed is utterly disproportionate with the moderate rise in fuel price and proving to be backbreaking. In fact most of them have fallen under the control of greedy rent-seekers and are complicit in the very price rise they are supposed to curb. Moreover, it’s absolutely imperative be wary of the political and security implications of the inexorable rise in the cost of living. Failure to tackle the problem within the shortest possible time is liable to cause the simmering public discontent to boil over, leading to instability and chaos.

Source: Ethiopian News February 27, 2021 07:18 UTC