Inflation Ethiopia 2024
Average inflation: 21.1%
Current Inflation
Inflation is very high at 21.1%, far above the ECB target.
Peak and Trough
The highest inflation was in January at 29.4%. The lowest inflation was in October at 16.1%.
- Highest month
- January: 29.4%
- Lowest month
- October: 16.1%
- Difference
- 13.3 percentage points
- Months with data
- 12 of 12
Historical Context
Current inflation is 5.4% lower than the 5-year average of 26.5%.
- 5-year average
- 26.5%
- 10-year average
- 19%
- All-time high (2022)
- 34%
- All-time low (2016)
- 7.3%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +9.3 percentage point.
- Change vs. previous year
- -9.3 percentage points
- Largest monthly swing
- October: -13.1 percentage points
ECB Target
Inflation is 19.1% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €121.10 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 29.4% | -4.5 |
| February | 28.2% | -3.9 |
| March | 26.2% | -8.0 |
| April | 23.3% | -10.2 |
| May | 23.3% | -7.5 |
| June | 19.9% | -9.5 |
| July | 18.6% | -10.2 |
| August | 17.2% | -11.0 |
| September | 17.5% | -10.8 |
| October | 16.1% | -13.1 |
| November | 16.9% | -11.4 |
| December | 17.0% | -11.7 |
| Average | 21.1% |
Data source
Data from WorldBank. Last updated: 06/01/2026.