Tanzania's headline annual inflation decelerated to a 10-month low of 5.9% in October from 6.6% the month before due to a slower growth in food prices, data from the country’s National Bureau of Statistics (NBS) showed. Compared to the previous month, Tanzania’s consumer prices fell 0.2% in October, following a 0.4% increase in September.
Prices of food and non-alcoholic beverages, which have a 47.8% weight in the CPI basket used to measure inflation, climbed 7.1% y/y last month, slowing from an 8.5% growth in September. The y/y growth in transport prices (9.5% weight) also eased – to 1.6% from 2.0%. On the other hand, the costs for housing, water, electricity, gas and other fuels (9.2% weight) rose 10.8% y/y, accelerating from a 10.7% growth in September.
The annual core inflation rate, which excludes the most volatile components food and energy, edged up to 3.2% last month from 3.1% in September.
The International Monetary Fund (IMF) forecast in May that Tanzania's inflation would gradually slow to the central bank’s 5% medium-term target. In its October World Economic Outlook, the IMF saw Tanzania’s average annual inflation falling from 7.9% in 2013 to 5.9% this year and further to 4.9% next year.
y/y inflation rate | Oct-14 | Sep-14 | Oct-13 | weight |
Headline inflation | 5.9% | 6.6% | 6.3% | 100.0 |
Food inflation (combining food consumed at home and food consumed in restaurants) | 7.0% | 8.3% | 7.3% | 51.0 |
Non food inflation | 4.6% | 4.6% | 6.1% | 49.0 |
Energy inflation (combining electricity and other fuels for use at home with petrol and diesel) | 11.6% | 12.1% | 10.6% | 5.7 |
Core inflation (all items less food and energy) | 3.2% | 3.1% | 5.7% | 43.3 |
Source: National Bureau of Statistics |
ENRG Elements, which focuses on exploring and developing uranium and copper projects, has used radiometrics and a recent trenching program to identify potentially significant uranium mineralisation ... more
Zimbabwe's government has, in response to a depreciation of a currency introduced on April 8, arrested 65 alleged illegal currency dealers and closed bank accounts of businesses suspected to ... more
Former South African President Jacob Zuma is discussing trading carbon credits with a Russian NGO, facilitated by a new Belarusian entity, according to ... more