Food prices dropped significantly in the Tigray region following the announcement of a peace deal struck between the federal government and the Tigray People’s Liberation Front (TPLF) last week.

The price level of grain and other commodities have started to decline in the regional capital, Mekele, the BBC Amharic reported. The food price began to fall since the peace agreement was signed in South Africa’s capital Pretoria on November 2.

Large price falls were recorded for Teff from 14,000 to 8,000 birr per quintal. Wheat prices also dropped from 9,000 birr to 3,000 birr per quintal.

The cost of vegetable oils, sugar, and berbere (red hot pepper powder) has been slowly coming down.

The signing of the ceasefire was enthusiastically welcomed by residents of the Tigrayan capital, the BBC journalist reported. Many express their hope and expectation that both parties would honor their commitments and that the ceasefire would be maintained.

Rahel Abay, a mother of two, who lives in Mekele, said that she was thrilled a peace agreement could be reached. “We are the ones who live where the war is raging. We are the ones who know what is on the ground. At least for now we have started going around without worrying about coming under air attacks,” she said.

Another resident of the town, Belay Takele, 32, said that the people of Tigray want to live in peace like the rest of the Ethiopians. “We know how much the war has cost us already. Now we want the signatories to honor the agreement,” he said.