Tanzania’s annual CPI inflation cools to 5.9% in October on lower food costs

By bne IntelliNews November 10, 2014

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        
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Atlantic Lithium approved to list on Ghana Stock Exchange (GSE)

Atlantic Lithium Ltd., an African-focused lithium exploration and development company targeting to deliver Ghana's first lithium mine, has been approved to list on the Ghana Stock Exchange (GSE), ... more

Uncut diamond giant Alrosa must sell stake in Angola's Catoca, Russian deputy FM says

Russian uncut diamond major Alrosa will have to sell its stake in Angola's Catoca diamond mining company owing to the latter's concerns about the prospects for collaborating with the sanctioned ... more

Mauritania taps German tech firm G+D to design its central bank digital currency (CBDC)

Mauritania has partnered with German tech company Giesecke+Devrient (G+D) to design its central bank digital currency (CBDC) but has not committed to developing or rolling it out, CoinGeek reports. ... more

Follow Us On

Most Read

  1. The models are wrong, climate change is accelerating faster than predicted
    7 days ago
  2. Cheap Russian drones overwhelm US-made Abrams tanks, taken out of action
    6 days ago
  3. Russia already treating Bosnia’s Republika Srpska as an independent state
    7 days ago
  4. Putinomics: Russia’s oil and gas revenue to double in April
    7 days ago
  5. Kuwait reacts angrily to being cut out of Iraq and Turkey’s transport project
    6 days ago
  1. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  2. Saudi Arabia to scale back plans for Neom city
    22 days ago
  3. Iran vs Israel: Who is better equipped for war?
    18 days ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    1 month ago
  5. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    6 months ago

Reports

Dismiss