By Molla Mitiku @MollaAyenew
Addis Abeba – Despite the optimism ignited by the signing of the Pretoria Agreement in November 2022, which held promise for peace and recovery, the people of Tigray now face a severe economic crisis fueled by skyrocketing prices for basic goods. The surge in prices of everyday items has exacerbated an already dire situation, pushing residents of the region to the brink.
Local residents, who are increasingly struggling to make ends meet, report that the high prices of items have skyrocketed, especially in recent months. They link this alarming trend to the region’s escalating political instability, driven by internal tensions within the Tigray People’s Liberation Front (TPLF) and Tigray Forces.
Consumers across various cities and towns in the Tigray region report that the price of teff, a staple food, has surged by nearly 3,000 birr, while the cost of five liters of cooking oil has increased by 300 birr in recent months.
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The ongoing economic crisis has resulted in substantial price increases across multiple sectors, particularly affecting essential commodities such as rice, wheat, oil, sugar, and vegetables. Residents attribute these surges to a combination of limited supply and rising demand. Furthermore, fuel shortages have elevated transportation costs, contributing to higher prices for locally produced goods. Read more