Retail Fuel prices were increased from 69 Birr/L to 75 Birr/L, a 12% increase in the price. However, inflation is at its lowest in 2 years and trending lower:
For the past 2 months inflation has been below 30% p.a. which we have not seen for 2 years and has been decreasing for 4 months on the trot.
Meanwhile there is little trading in Ethiopia, Minimum Registration Prices are too high and quality leaves a lot to me desired. We should have August shipment figures next week, again these are likely to disappoint.
Weather remains favourable for the harvest which is rapidly approaching.
Birr 55.14 = USD 1
Meanwhile the BBC reported on a confrontation in Tigray between protesters and authorities: https://www.bbc.com/news/world/africa?ns_mchannel=social&ns_source=twitter&ns_campaign=bbc_live&ns_linkname=64fa04d2d7211212a459d66e%26Tigray%20protesters%20brutally%20beaten%20and%20arrested%262023-09-07T17%3A28%3A07.498Z&ns_fee=0&pinned_post_locator=urn:asset:30882fa3-123c-4048-ae60-7ffd96c67ac2&pinned_post_asset_id=64fa04d2d7211212a459d66e&pinned_post_type=share
Have a good weekend.