The prices on the menu have been erased at a small hotel in a suburb of Ethiopia’s capital. That was no mistake, the waiters said, as businesses in Addis Ababa struggle to keep up with spiraling inflation since the government implemented a flexible exchange rate policy late last month.
FILE -A man sells chickens in Sholla Market, the day before the Ethiopia n New Year, in Addis Ababa , Ethiopia , Sept. 10, 2022. , File)ADDIS ABABA, Ethiopia — The prices on the menu have been erased at a small hotel in a suburb of Ethiopia ’s capital.
The menus at the Samra Hotel in Bole, a leafy suburb of Addis Ababa, captured the instability: There’s a new price for every meal at any moment. The Addis Ababa City Trade Bureau has warned that more actions will be taken against people who take advantage of the floating of the birr to hike prices. Ethiopia, which suffered foreign currency shortages in the months leading to the reforms, imports many essential commodities. To help consumers cope with the impact of the new policy, authorities imported 14 million liters of edible oil, but such interventions have been minor given the rising prices of other essential goods.
Addis Ababa Ethiopia Government General News Africa World News Government Policy I Business F Hospitality And Leisure Industry International Monetary Fund Inflation World News
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