Price DatabaseJanuary 2011: This note provides the fifth quarterly update of price levels for a wide range

e of goods and services in Addis Ababa. As before, a total of 184 prices have been compiled under nine broad categories and the data collection exercise was conducted in collaboration with Horizon Ethiopia, a businessoriented publication based in Addis Ababa. As it has now been a year since the collection of such data, it is possible to compute year-on-year price increases using a series of consistent and comparable data. The latest price data reveal double-digit price increases for roughly half of the surveyed goods and services (89 out of 184 items), indicating the broad-based nature of recent price pressures. Most prominent among the commodities showing double-digit price increases are items such as imported cooking oil, vegetables, and building materials. About 13 percent of items in the survey show year-on-year price declines, including freight charges by Ethiopian Airlines, urban land lease rates, and selected fruits. On the basis of weights utilized for Addis Ababas official price index, we calculate a 15 percent year-on-year inflation rate for the 184 commodities and services covered in our survey. This is not that different from the 18 percent country-wide price increase reported by the Central Statistical Agency for January 2011, and the 21 percent year-on-year inflation reported for Addis Ababa during the same period. The price caps imposed by the government in January 2011 were not yet in place for a sufficient period of time when this survey was conducted and their impact is thus not fully visible. Nonetheless, we highlight in bold the prices currently subject to price controls and their price levels as collected at time of the survey in January 2011. A fuller treatment of price developments in the months following the price controls will be provided in our next quarterly price database review in April 2011. An electronic version of the www.accesscapitalsc.com/research. price database is available at our website at

February 2011 Access Capital Research

Price DatabaseJanuary 2011

NAME

DESCRIPTION

Q1 Prices (January 2010)

Q1 Prices (January 2011)

Percentage Change

I. Consumer Goods
Teff White - Birr/quintals Black - Birr/ quintals Milk Home Delivered 1 liter/per day for a monthly Mama (Pack/Birr) Light (not dark) Injera in Birr/Piece Bulk salt (as opposed to in a shaker) (Birr/450 g/m) Habesha (Birr/Piece) Ferenj (Birr/Piece) Green Pepper Onions Tomatoes Broccoli Spinach Potatoes Orange Bananas Apple Bread Sheep Birr/kg Birr/kg Birr/kg Birr/kg Birr/kg Birr/kg Birr/kg Birr/kg Birr/kg (Imported) Birr/Piece (350 gram) Gelgel in Birr Yedelebe in Birr Chicken Ox (Cow) Sugar Honey Berbere Habesha in Birr Yedelebe in Birr Retail Price in Birr/Kg Wolella Birr/kg Unprocessed - per Feresula (17kg) in Birr Processed Birr/kg Birr/Kg Birr/Kg (Busmeti)
1,130.0 670.0 223.0 5.1 2.5 3.3 1.0 1.9 12.8 4.1 5.0 14.7 15.6 4.3 13.0 5.8 72.7 3.2 317.0 550.0 43.3 5,500.0 8.9 50.6 595.0 50.6 26.3 29.5 1,000.0 780.0 283.0 5.3 3.9 3.3 2.0 2.1 11.0 6.0 6.0 22.7 34.7 3.8 7.5 -42.3% 5.0 -13.8% 85.0 16.9% 3.8 385.0 21.5% 665.0 20.9% 50.0 6,250.0 14.0 55.0 470.0 -21.0% 66.5 31.4% 33.0 30.0 25.5% 1.7% 15.5% 13.6% 58.2% 8.8% 20.6% -11.5% 16.4% 26.9% 4.5% 56.0% -1.5% 100.0% 7.9% -13.7% 48.1% 20.0% 54.4% 122.4% -11.6%

Injera Table Salt Egg

Shuro Rice

Price DatabaseJanuary 2011

Meat Meat Cooking Oil

Chikena/special/kg Kitfo and Kurt/kg 3 liter (Imported) in Birr 3 liter (Local) in Birr

81.7 59.3 50.7 75.0 70.0 4.2 3.1 72.3 5.3 26.8 28.2 28.2 411.0 1,010.0 6.5 6.5 6.5 6.5 27.0 12.7 3.0 0.9 1.9 2.5 1.4 2.0 315.0

58.0 52.0 187.0 93.0 95.0

-29.0% -12.3% 268.8% 24.0% 35.7%

Butter Bottled Water Soft drinks Coffee Cigarettes

Ethiopian Style (Sheno) in Birr/Kg Abyssinia 0.5 Liters in Birr Coca Cola (300 ml) in Birr Birr/ kg /Special/ Nyala (Birr/Pack) Marlboro (Birr/Pack) Duty Free Marlboro (Birr/Pack) Duty Free Rothmans (Birr/Pack)

4.4 4.2 99.0 8.0 35.0 35.0

4.8% 35.5% 36.9% 50.9% 30.6% 24.1%

38.0 34.8% 537.0 1,260.0 7.1 7.1 7.1 7.1 24.0 20.0 47.0 2.0 1.1 2.3 3.1 0.7 1.4 1.6 3.3 500.0 30.7% 24.8% 9.2% 9.2% 9.2% 9.2% -11.1% 57.5% -33.3% 29.4% 21.6% 24.5%

Whisky

White Horse (1 Liter) in Birr Black Label (1 Liter) in Birr Giorgis (330 ml) in Birr Castel (330 ml) in Birr Meta (330 ml) in Birr Dashen (330 ml) in Birr Heineken (330 ml) in Birr One time use in Birr For Suit (in Birr) One time use in Birr Short Distance in Birr Medium Distance in Birr Long Distance in Birr Anbesa - Short Distance in Birr Anbesa - Long Distance in Birr Higer - Short Distance in Birr Higer - Long Distance in Birr Membership (Birr/Month) Retail Prices in Birr per Quintal (Muger OPC) by Gauge/Producer 35 gauge in Birr 32 gauge in Birr 28 gauge in Birr Birr In Berga or 12 meter length (Local) 8 mm 10 mm 12 mm

Beer

II. Services
Haircut Laundry Shoe shine Taxi

Bus

Gym Cement Corrugated/Galvanized Steel Sheet a. Elfign Bahru b.Elfign Bahru c. Kaliti Reinforcement Iron

18.5% 65.0% 58.7%

III. Construction and Building Materials

218 405 85.8%

95 130 218

106 150 220

11.6% 15.4% 0.9%

52 81 102

47 74 107

-9.6% -8.6% 4.9%

Price DatabaseJanuary 2011

14 mm 16 mm 20 mm Birr In Berga or 12 meter length (Imported/Turkey 8 mm 10 mm 12 mm 14 mm 16 mm 20 mm in Birr by Size (Thickness) 40x3 mm 30x3 mm 25x3 mm In Birr by Size 10 cm (Pines) 15 cm (Pines) 20 cm (Pines) 25 cm (Pines) 30 cm (Pines) 20 cm (Eucalyptus) 25 cm (Eucalyptus) 30 cm (Eucalyptus) 15 cm Thickness 20 cm Thickness 25 cm Thickness 30 cm Thickness Weraj (8m) Mager (4m) Kwami (4m) 5kg. Pack in Birr in Birr by Size/Type 1.5cm thickness (Local) 1.5cm thickness (Imported) ABB SIEMENS In Birr by Volume Birr per Metric Ton Birr per liter Birr per Metric Ton Birr per liter Birr per trip (15Km) Birr/Hour Birr/Hour

155 178 365

145 190 296

-6.5% 6.7% -18.9%

86 96 138 200 245 435 170 120 110 32 43 68 115 125 50 60 70 108 140 180 218 30 8 12 95 255 150 45 62

88 133 188 239 335 489 175 120 105 60 80 110 165 200 55 70 80 110 150 188 228 40 15 20 115 360 260 75 65

2.3% 38.5% 36.2% 19.5% 36.7% 12.4% 2.9% 0.0% -4.5% 87.5% 86.0% 61.8% 43.5% 60.0% 10.0% 16.7% 14.3% 1.9% 7.1% 4.4% 4.6% 33.3% 87.5% 66.7% 21.1% 41.2% 73.3% 66.7% 4.8%

Angle Iron

Building and Wooden Materials a. Timber , Local

b. Timber, Imported

c. Wood (Atana

d. Nails Electrical Equipments a. Cables (100 Meters) b. Circuits (25 Ampere) Asphalt (Bitumen) for road construction a. Bitumen MC-30 b. Bitumen VR 120-150

18,750 17.62 20,827 19.57

30,130 28.3 25,143 23.6

60.7% 60.6% 20.7% 20.6% 71.4% 11.1% 50.0%

IV. Construction Machinery and Vehicle Rentals

Isuzu Dozer a. Dozer (CAT D8R 305HP) b. Dozer (CATD7R 305HP) Grader
350 900 500 600 1,000 750

Price DatabaseJanuary 2011

a. Grader (CAT 140H) b. Grader (China XCMG 115G) Excavator a. Excavator (CAT, 315-345 without Jackhammer) Loader a. Loader (China XCMG 3m3) b. Loader (China XGMA 3m3) Car Tires a. 857x12.20 Bridgestone (Front) b. 802x12.20 Bridgestone (Rear) c. 335x12.20 Bridgestone (Rear) d. 12x20 Pirelli (Front) e. 12x20 Pirelli (Front), China a. Benzene b. Diesel Oil c. Kerosene Charcoal (Quintal) a. Half Qtl. b. One Qtl. Electricity Consumption Charge (Kwh) a. Domestic Customers b. General Commercial c.. High Voltage (132kV) Industrial d. Low Voltage (380V) Industrial e. Medium Voltage (380V) Industrial Water & Sewerage Services Charges (Meter Cube a. Domestic Customers (Monthly Water Consumption) 8 up to 20 M3 above 20 M
3

Birr/Hour Birr/Hour Birr/Hour

650 500

800 700

23.1% 40.0%

550

700

27.3%

Birr/Hour Birr/Hour Birr /Piece Birr /Piece Birr /Piece Birr /Piece Birr /Piece Birr per liter Birr per liter Birr per liter in Birr in Birr Fee/Kwh (Equivalent Flat Rate in Birr) Birr/Kwh Birr/Kwh Birr/Kwh Birr/Kwh Birr/Kwh Tariff /M3 (in Birr per month) Birr /M3 Birr /M3 Birr /M
3

300 250 7,100 7,450 7,450 6,500 5,750 12.61 10.53 9.25 75 100

250 250 9,100 9,500 9,000 7,500 6,150 16.54 13.94 12.36 90 130

-16.7% 0.0% 28.2% 27.5% 20.8% 15.4% 7.0% 31.2% 32.4% 33.6% 20.0% 30.0%

V. Fuel, Water & Energy Prices (Tariffs)

0.47 0.67 0.38 0.58 0.41

0.47 0.67 0.38 0.58 0.41

0.0% 0.0% 0.0% 0.0% 0.0%

1.75 3.15 3.8 3.8

1.75 3.8 4.75 4.75 1.75

0.0% 20.6% 25.0% 25.0% 0.0%

b. Non Domestic Customers (Commercial) c. Public Fountains (Bonno Weha)

Birr /M3 Birr /M3

1.75

VI. Freight Charges

EAL International Freight Rates a. Injera +300kg b. Meat + 1000kg c. Flowers + 300kg d. Personal items (+100kg) USD Cost of Cargo per Kg Addis Ababa - Dubai Addis Ababa - Dubai Addis Ababa - Dubai Addis Ababa - Dubai
0.65 0.7 1 4.57 0.71 0.71 1.05 2 9.2% 1.4% 5.0% -56.2%

Price DatabaseJanuary 2011

ESL Freight Charges (Containers)

Transport Cost per TEU (Twenty Feet Equivalent Unit) in USD for Imported Items (by Port of Origin) Istanbul Singapore Jakarta Dalian Qingdao Shanghai Tokyo Genoa Southampton Storage Charges per TEU (Twenty Feet Equivalent Unit) in USD local Import/Export local Import/Export Birr per Quintal Birr/Quintal Birr/Quintal Commercial and Mixed Use (Birr/M2) Commercial Commercial and Mixed Use Commercial and Mixed Use Industry and Residential (Birr/M2) Residential Industrial
4,720 2,747 6,677 1,356 41.5% -50.6% 11,000 7,560 4,913 10,050 9,050 3,511 -8.6% 19.7% -28.5% 1,600 1,225 1,475 1,775 1,775 1,775 2,050 1,400 1,500

a. Gulf & Indian Sub-Continent Trade Route

b. Far East Trade Route

C. North Continent and Mediterranean Trade Route Djibouti Port Handling Charge (Containers) a. 9-15 days storage b. 11-15 days storage Road Freight Transport (DjiboutiAddis Ababa) a. Dry Bulk Traffic b. Liquid Bulk Traffic (Fuel)

5.65 7.05

7.05 8.8

24.8% 24.8%

70 77

75 75

7.1% -2.6%

VII. Urban Land Lease Prices

Auction a. Arada Sub-City b. Kirkos Sub-City c. Lideta Sub-City Negotiation a. Bole Sub-City b .Akaki-Kaliti Sub-City

VIII. Residential Houses Sale & Rents

Rental Prices G+1 and above 250 sqm. G+1 and above 500 sqm. G+1 and above 1000 sqm. Sale Prices G+1 and above 250 sqm. G+1 and above 500 sqm. G+1 and above 1000 sqm. Birr/Month Birr/Month Birr/Month in Birr in Birr in Birr
12,000 29,000 42,000 2,400,000 3,800,000 5,300,000 12,000 29,000 42,000 2,650,000 4,200,000 5,850,000 0.0% 0.0% 0.0% 10.4% 10.5% 10.4%

IX. Wages & Salaries

Skilled Labor Carpenter (Furniture and Shuttering) Mason (Brick or Stone) Heavy Vehicle Driver/Machine Operator Average Daily Fee (in Birr) Average Daily Fee (in Birr) Average Monthly Salary
60 70 110 90 83.3% 28.6%

Price DatabaseJanuary 2011

a Dozer, Loader , Roller b. Excavator, Grader Electrician Semi-Skilled Labor Plumber Unskilled labor Daily Labors Professionals Accountant (Degree),0-3 years of experience a. Government b. Private c. NGO Secretary (Degree), 0-3 years of experience a. Government b. Private c. NGO Managers a. Government b. Private c. NGO Doctor (General Practitioner-GP) a. Government b. Private c. NGO Domestic Services Maid/Janitor Guard

Birr/Month Birr/Month Average Daily Fee (in Birr) Average Daily Fee (in Birr) Average Daily Fee (in Birr) Average Monthly Salary (in Birr) Birr/Month Birr/Month Birr/Month Average Monthly Salary (in Birr) Birr/Month Birr/Month Birr/Month Average Monthly Salary (in Birr) Birr/Month Birr/Month Birr/Month Average Monthly Salary (in Birr) Birr/Month Birr/Month Birr/Month Average Monthly Salary (in Birr) Birr/Month Birr/Month

2,000 4,000 75 30 20

4,000 6,000 120 100 40

100.0% 50.0% 60.0% 233.3% 100.0%

1,050 1,260 3,712

1,460 1,260 3,712

39.0% 0.0% 0.0%

1,050 1,170 2,329 3,152 5,466 8,500

1,460 1,170 2,329 4,350 5,466 8,500

39.0% 0.0% 0.0% 38.0% 0.0% 0.0%

2,482 10,000 9,000 300 500

3,425 10,000 9,000 400 500

38.0% 0.0% 0.0% 33.3% 0.0%

Price DatabaseJanuary 2011

Inflation Analytics on the basis of Access Capitals Quarterly Price Survey

Addis Ababa (January 2010 Vs January 2011)
January--2010 CPI
GENERAL INFLATION FOOD INFLATION NON-FOOD INFLATION Beverages Cigarettes and Tobacco House Rent, Construction Materials, Water and Fuel and Power Transport and Communication Personal care and Effects
170.7 191.1 156.6 189.8 172.9 133.2 150.4 181.4

January--2011 CPI
196.1 198.8 180.2 239.5 226.6 151.0 181.8 254.2

Q1/Q1 Weighted Inflation

14.9% 4.0% 15.0% 26.2% 31.1% 13.4% 20.9% 40.1%

Inflation Analytics on the basis of Central Statistical Agencys Monthly Consumer Price Survey Country Level (January 2010 Vs January 2011)
January--2010 CPI
GENERAL INFLATION FOOD INFLATION NON-FOOD INFLATION Beverages Cigarettes and Tobacco House Rent, Construction Materials, Water and Fuel and Power Transport and Communication Personal care and Effects
178.2 186.0 167.9 187.7 165.7 161.7 138.5 186.0

January--2011 CPI
209.8 211.3 207.7 207.3 229.1 199.4 173.7 245.7

Q1/Q1 Weighted Inflation

17.7% 13.6% 23.7% 10.4% 38.3% 23.3% 25.4% 32.1%

Inflation Analytics on the basis of Central Statistical Agencys Monthly Consumer Price Survey Addis Ababa (January 2010 Vs January 2011)
January--2010 CPI
GENERAL INFLATION FOOD INFLATION NON-FOOD INFLATION Beverages Cigarettes and Tobacco House Rent, Construction Materials, Water and Fuel and Power Transport and Communication Personal care and Effects
170.7 191.1 156.6 189.8 172.9 133.2 150.4 181.4

January--2011 CPI
207.3 221.6 197.3 218.5 226.2 165.7 188.6 257.4

Q1/Q1 Weighted Inflation

21.4% 16.0% 26.0% 15.1% 30.8% 24.4% 25.4% 41.9%

Price DatabaseJanuary 2011

Access Capital Price Database-- TOP 10 HIGHEST PRICE INCREASES January 2010 Item Prices
1 2 3 4 5 6 7 8 9 10 Consumer Goods, Imported Cooking Oil--3Lit Consumer Goods, Spinach -- per Kg Consumer Goods, Egg (Habesha) -- per Kg Building and Wooden Materials, Local Timber -- 10cm (Pines) Building and Wooden Materials, Mager--4 meters Building and Wooden Materials, Local Timber -- 15cm (Pines) Cement--per quintal Isuzu Rental--15Km round trip Electrical Equipments: ABB circuits 25 ampere Higer Bus -- Long Distance
50.7 15.6 1.0 32.0 8.0 43.0 218.0 350.0 45.0 2.0

January 2011 Prices

187.0 34.7 2.0 60.0 15.0 80.0 405.0 600.0 75.0 3.3

% Increase
269.1% 122.4% 100.0% 87.5% 87.5% 86.0% 85.8% 71.4% 66.7% 65.0%

Access Capital Price Database-- TOP 10 LOWEST PRICE DECREASES January 2010 Item Prices
1 2 3 4 5 6 7 8 9 10 EAL International Freight Rates for Personal Items (+100Kg), Addis Ababa to Dubai (in USD) Urban Land Lease Prices by Negotiation, Akaki Kality Sub-city (per M2) Oranges (per Kg) Urban Land Lease Prices by Auction, Lideta Sub-city (per M2) Unprocessed Berbere (per Feresula or 17Kg) Reinforcement Iron--Local 20mm (12 Meter OR Berga) Bananas (per Kg) Green Pepper (per Kg) Meat (per Kg) Potatoes (per Kg)
4.57 2,747 13 4,913 595 365 5.8 12.75 59.3 4.3

January 2011 Prices

2.00 1,356 7.5 3,511 470 296 5 11 52 3.8

% Decrease

-56.2% -50.6% -42.3% -28.5% -21.0% -18.9% -13.8% -13.7% -12.3% -11.6%