Food prices continue climbing in the New Year


New Year is one of the most celebrated and unique holidays in Ethiopia as the country follows its own ancient calendar also known as the Geez calendar. Ethiopia celebrates on Tuesday, September 11, 2012 its new year. Based upon the ancient Coptic Calendar, the Ethiopian Calendar is seven to eight years behind the Gregorian Calendar, owing to alternate calculations in determining the date of the annunciation of the birth of Jesus.
As Ethiopia hence celebrates its New Year 2005, like in many important holidays, food plays center role and this means prices frequently go up. This year is no different as portrayed in the graph below.
Frequently prices go down on the eve of holidays because people usually purchase holiday items in advance fearing the prices will continue to escalate and many food sellers come from rural areas and their desire to return home quickly for the holiday means they are often willing to sell their remaining stock at discount prices.