(Xinhua) -- Ethiopia's inflation rate eased to 32.5 percent in August, marking the third straight month inflation had been decreasing in the East African nation, according to data released by the Central Statistical Agency (CSA) Monday.

Ethiopia's inflation rate rose to 34.7 percent in March, up from 33.6 percent in February, according to the latest data released by Ethiopia's Central Statistical Agency (CSA).

Moody's Investors Service ("Moody's") has today downgraded the long-term issuer and senior unsecured ratings of the Government of Ethiopia to Caa2 from Caa1 under review for downgrade. The outlook is negative. This concludes the review for downgrade initiated on 17 May 2021.

Moody's Investors Service ("Moody's") has placed the Government of Ethiopia's B2 long-term issuer and senior unsecured ratings on review for downgrade.