The Ethiopian government today (January 6, 2011) announced that it has fixed retail prices of 17 commodities in Addis Ababa market.
In a discussion prepared for some 500 business firms at the Prime Minister’s office this morning, the Ministry of Trade warned the participants not to sell major consumer goods above the maximum price set by the ministry including all taxes.
Bread, rice, imported milk, soap, beer, soft drinks, orange, banana, pasta, meat, paint, corrugated sheet, exercise books and pen are the commodities listed by the ministry. Fixing prices of these commodities will protect the consumers from the ever increasing prices, according to the ministry.
“The current market price of these commodities is abnormal and artificial,” said State Minister of Trade Ahmed Tussa to the manufacturers, importers and wholesalers invited to attend the meeting.
Price escalation being observed in the country is caused by speculators of the market, according to Ahmed. “The prices we now set for these commodities will be revised whenever there are major international or local situations that lead to fluctuation of commodity prices,” he said. Read More
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