The statement outlines the policy measures the central bank believes can help reduce inflation in a significant and sustained manner. The ominous specter of a socio-economic catastrophe that this phenomena poses is liable to precipitate a political instability that must be averted before it causes irreparable harm. However, the manner in which they have been soaring is not only unfair, but also far outstrips the rise in income levels. These steps may go some way toward bringing down inflation to the level projected by NBE in the short-term. In the absence of a political commitment, any attempt to bring down the country’s rampant inflation is bound to fall flat.

Source: Ethiopian News August 12, 2023 18:15 UTC