Inflation drop slightly in November

The inflation rate for November has dropped slightly to 6.2 per cent from 6.3 per cent recorded in October, this year, the National Bureau of Statistics (NBS) has announced.

But, annual inflation rate for food consumed at home and outside home increased to 7.6 per cent in November compared to the preceding month's 7.3 per cent, while the 12-month index change for non-food products decreased to 5.7 from 6.1 per cent over the period under review.

According to NBS, the overall index increased to 143.23 in November from 141.39 in October, this year. The increase in the overall index is attributed to the price increase of both food and non food items.

The new National Consumer Price Index released by NBS on Saturday for November also indicates that energy and fuels portrayed unstable price movements compared to other indices.

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

“The annual inflation rate, which excludes food and energy for November, has decreased to 5.3 per cent from 5.7 recorded in October,” Mr Kwesigabo reported.

He mentioned food item which contributed to the monthly headline inflation rate increase as rice, maize grain, pastry products, cassava flour, meat, traditionally bred live chicken, dried sardines, fried fish, coconut, vegetables, tomatoes and beans.

On the purchasing power of the Tanzanian shilling for November, Mr Kwesigabo noted that findings have shown that such power decreased to 70.31/- in November compared to the same month in 2010.

“On the average, energy and fuel index and food and non- alcoholic beverages index have shown a higher upward trend over the period compared to the indices, furthermore energy and fuel portrayed unstable price movements compared to the indices all items without food and energy have indicated a much stable price,” she remarked.

While the Tanzania rate descends to a pleasing level, in Kenya and Uganda the inflation rate climbed up in September to 6.1 per cent and from 6.3 per cent and 6.2 per cent in October and November respectively.

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.

Source: Daily News, reported by Hilda Mhagama from Dar es Salaam, Tanzania

Share on Google Plus

About Unknown

This is a short description in the author block about the author. You edit it by entering text in the "Biographical Info" field in the user admin panel.