Dar records lowest inflation rates in EAC

TANZANIA’s inflation rates continue to stand at a better position compared to other neighbouring countries in the East African Region (EAC).

According to a report for August, released here yesterday by the National Bureau of Statistics (NBS), the country’s inflation rate stagnated at 3.3 percent, as recorded in July, this year.

“The stagnation of the headline inflation explains that the speed of price changes for commodities for the year ending August, 2018 has remained the same as that recorded for the year ending July, 2018,” the Director of Population Census and Social Statistics at NBS, Mr Ephraim Kwesigabo, told a press conference yesterday.

He added that food and non - alcoholic beverages inflation rate for the month of August, this year, has decreased to 2.2 percent from 2.8 percent recorded in July, 2018.

“However, the annual rate for food consumed at home and away from home has slightly increased to 3.2 percent in August, from 3.0 percent recorded in July, this year,” he added.

In addition, he revealed, the 12 month index changes for non- food products in August has increased to 4.6 percent from 4.2 percent recorded in July, this year.

“Annual inflation rate which excludes food and energy for the month of August, this year, has increased to 2.0 per cent from 1.6 per cent recorded in July, this year,” he explained.

Moreover, he added that, the National Consumer Price Index (NCPI) has shown a relatively stable movement of prices from August, 2017 to August 2018.

And that, inflation rates over the same period have decreased from 5.0 per cent in August, 2017 to 3.3 per cent in August, 2018. Pertaining monthly change of consumer price index from July to August, this year, he said, the relevant statistics has decreased by 0.4 per cent compared to a decrease of 0.3 per cent in July.

“The overall index has decreased to 112.01 in August, this year from 112.44 recorded in July,” he explained.

He informed that such a decrease of the overall index is mainly attributed to price decrease of food items, adding, “Some food items that contributed to such decrease include; rice by 1.7 per cent, maize grain by 3.6 per cent, maize flour by 3.5 per cent, wheat flour by 1.2 per cent, sorghum by 2.0 per cent, vegetables by 2.8 per cent, cassava by 1.6 per cent and cocoyam by 3.6 per cent.”

He said NCPI measure the changes over time in the cost of fixed basket of goods and services that are purchased by a representative sample of households in Tanzania.

“This basket includes a list of 278 goods and services of which 97 are food and non- alcoholic beverages and 181 are Non- food items that are being priced on monthly basis,” he tipped.

Author: DAILY NEWS Reporter

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