Tanzania's headline annual inflation accelerated to 4.2% in February from 4.0% in January, snapping a five-month falling streak, data from the country’s National Bureau of Statistics (NBS) showed. However, it remained below the central bank’s 5% target. The monthly inflation quickened to 1.6% from 1.0% in January.
Prices of food and non-alcoholic beverages, which have a 47.8% weight in the CPI basket used to measure inflation, increased 4.9% y/y last month, at the same pace as in January. The y/y growth in the costs for housing, water, electricity, gas and other fuels (9.2% weight) accelerated to 6.6% from 4.9%, while transport prices (9.5% weight) fell 1.4% y/y, after staying flat in January.
The annual core inflation rate, which excludes the most volatile components food and energy, eased to 2.7% last month from 2.8% in January.
Tanzania’s average annual headline inflation fell to 6.1% last year from 7.9% in 2013, with food inflation down to 7.7% from 8.6%, non-food inflation down to 4.9% from 7.5%, and core inflation down to 3.7% from 6.2%.
|y/y inflation rate||Feb-15||Jan-15||Feb-14||weight|
|Food inflation (combining food consumed at home and food consumed in restaurants)||5.1%||5.0%||6.9%||51.0|
|Non food inflation||3.0%||2.7%||6.3%||49.0|
|Energy inflation (combining electricity and other fuels for use at home with petrol and diesel)||4.4%||2.4%||16.1%||5.7|
|Core inflation (all items less food and energy)||2.7%||2.8%||4.8%||43.3|
|Source: National Bureau of Statistics|
South Africa’s MTN said it has agreed, on a non-binding and preliminary basis, to invest an initial $350mn into Iranian fixed broadband provider Iranian Net. The investment will give ... more
Fitch Ratings on April 7 downgraded South Africa to junk status following the removal of Pravin Gordhan as finance minister and the enusing political crisis. Fitch's downgrade to 'BB+' ... more
Standard & Poor’s ratings agency has cut South Africa's sovereign credit rating to 'BB+' from 'BBB-' and the long-term local currency rating to 'BBB-' from 'BBB', both with a negative ... more