Prices of imported food items have decreased, said an Ethiopian ministry on Friday. The Ministry of Trade and Regional Relations issued a statement in this regard.
The ministry announced that the prices of imported food products, especially oil, sugar and wheat flour, had decreased. Similarly, the ministry revealed that prices of wheat, barley and corn products have decreased too.
“The prices of pasta, macaroni and rice have remained stable. The government, with the intention of stabilizing the market of basic commodities, has released 29,350 quintals of crops and 3,250 quintals of onion to the market,” the ministry said.
Food and non food items have been seeing a rapid increase in prices for almost 3 weeks since the Ethiopian currency devalued. Ethiopian birr has lost around 100% of its value against US dollar in 3 weeks after Ethiopian government introduced macro economic reforms. The government has launched a crackdown on traders involved in price hike and hoarding. More than 25,000 businesses have been closed by the relevant authorities across Ethiopia so far.
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