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TZ, Kenya, Uganda inflation trend climbs

THE annual headline inflation rates for Tanzania, Kenya and Uganda for the month of October, 2019 went up compared to the corresponding period in September, the National Bureau of Statistics (NBS) has said.

Addressing a news conference in Dodoma, NBS Acting Director of Population, Census and Social Statistics, Ruth Davison, said Tanzania’s annual headline inflation rate for the month of October slightly increased to 3.6per cent from 3.4per cent recorded in September 2019.

She said that the decrease of the headline inflation shows that, the speed of price change for commodities for the year ended October 2019 has increased compared to the speed of price change recorded for the year ended September, 2019.

In comparison with other East African countries of Kenya and Uganda, she said, the annual inflation rate in Kenya increased to 4.95per cent from 3.83per cent recorded in September, 2019.

In Uganda, the annual headline inflation rate increased to 2.5per cent from 1.9per cent recorded in September, 2019.

The National Consumer Price Index (NCPI) measures the change over time in the cost of a fixed basket of goods and services that are purchased by a representative sample of households in Tanzania.

A 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 a monthly basis.

According to Ms Davison, Food and Non-Alcoholic Beverages Inflation Rate for the month of October, 2019 increased to 5.1per cent from 4.0per cent recorded in September, 2019.

“Annual Inflation Rate for food consumed at home and away from home for the month of October, 2019 has also increased to 6.0per cent from 5.1per cent recorded in September, 2019.

On the other hand, the 12-month index change for non-food products in October, 2019 has decreased to 2.7per cent from 3.1per cent recorded in September, 2019,’’ she noted.

According to her, the Annual Inflation Rate which excludes food and energy for the month of October, 2019 had slightly decreased to 2.6per cent from 2.7per cent recorded in September, 2019.

“The NCPI used to compute this type of Inflation Rate excludes food consumed at home and restaurants, petrol, diesel, gas, kerosene, charcoal, firewood and electricity.

Excluding food and energy which are the most volatile components in the total NCPI could provide a more stable Inflation Rate figure for Policy Makers,’’ said Ms Davison.

Explaining further, Ms Davison said the NCPI from September, 2019 to October, 2019 decreased by 0.1per cent, the same decrease as it was recorded from August, 2019 to September, 2019.

The overall index, she added, decreased to 115.84 in October, 2019 from 115.92 recorded in September, 2019. The decrease of the overall index is mainly attributed to the price decrease for non food items.

According to NBS statistics, most of the non food items that contributed to such a decrease include kerosene by 2.5per cent, firewood by 1.7per cent, diesel by 2.1per cent, petrol by 4.0per cent, information processing equipments by 5.1per cent and products for personal care such as hair cream by 1.6per cent.

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Author: DAILY NEWS Reporter in Dodoma

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