Tanzania Inflation rate August 2015‏

09 Sep
THE inflation rate for last month has remained at 6.4 per cent, the same as it was in July 2015, the National Bureau of Statistics (NBS) announced in Dar es Salaam yesterday.
NBS Population Census and Social Statistics Director, Mr Ephraim Kwesigabo

NBS Population Census and Social Statistics Director, Mr Ephraim Kwesigabo

But, the annual inflation rate for food consumed at home and away from home has decreased to 10.1 per cent in August compared to the previous month, which was at 10.5 per cent, while the 12-month index change for non-food products has slightly increased to 1.7 per cent from 1.4 per cent recorded in July.

According to NBS, the overall index increased to 158.81 last month from 149.31 in August, 2014. The increase in the overall index is attributed to the price increase in non-food items.

The new National Consumer Price Index released by NBS yesterday for last month also indicates that the annual inflation rate, which excludes food and energy for the month of August, has slightly increased to 2.2 per cent from 2.1 recorded in July 2015.

NBS Population Census and Social Statistics Director, Mr Ephraim Kwesigabo, said that basically the increase in month-to-month inflation rates is attributed to the price increase, both in food and non-food items.

“The increase of annual headline inflation rate for the year ending August 2015 explains that the speed of price increase for commodities has increased in the same speed as it was recorded for the year ended July,” Mr Kwesigabo reported.

“The monthly headline inflation rate for the month of August has increased by 0.02 per cent compared to an increase of 0.41 per cent recorded in July,” he said.

He mentioned the non-food items which contributed to the monthly headline inflation rate increase as gas, kerosene, carpets, diesel and petrol.

“The purchasing power of the shilling indicates that currently you cannot purchase the same thing with the same amount of money like in the year 2010,” he remarked.

While the Tanzanian rate has stagnated, in Kenya the rate decreased to 5.4 per cent last month from 6.6 recorded in July and in Uganda the inflation rate decreased last month to 4.8 per cent from 5.4 per cent.

Principal Statistician, Ms Ruth Minja, said that among other things NBS role was to educate as many people as possible through various media to help them understand clearly the issue pertaining to inflation.

“It is crucial for people to read all the details instead of complaining that they do not understand certain things,” she elaborated.

Tanzania’s inflation rate averaged 7.72 per cent from 1999 until 2013. It reached an all-time high of 19.8 per cent in December, 2011 and a record low of 3.4 per cent in February, 2003.

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Posted by on September 9, 2015 in Business News, Tanzania News


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