THE annual headline inflation for August has declined compared to the previous month on account of lower food and fuel prices.
The National Bureau of Statistics (NBS)
Director of Population, Census and Social Statistics, Mr Ephraim
Kwesigabo, said in Dar es Salaam yesterday that inflation fell to 4.9
percent year-on-year last month from 5.1 percent in July.
He said the month-on-month headline
inflation rate went down 0.2 per cent in August from an increase of 0.03
per cent a month ago. The overall index went up to 103.28 in August
from 98.49 recorded in August 2015.
The inflation for food and Non Alcoholic
Beverages for August has decreased to 7.0 per cent from 7.6 per cent
recorded in July 2016. The overall index has decreased to 103.28 in
August, 2016 from 103.50 recorded in July mainly due to price decrease
of food items.
Some food items that contributed to such
decrease include cereals by 0.6 per cent, cassava flour by 2.1 per
cent, sardines by 3.0 per cent and vegetables by 2.6 per cent. Food and
fuel prices are key drivers of inflation in East Africa’s second largest
economy.
“This is the first time this year that
the annual headline inflation rate has decreased below 5 percent, which
is the government’s mid-term target for the inflation rate,” he said.
The inflation rate for food consumed at
home and away from home has decreased to 7 per cent in August from 7.8
per cent recorded in July. The 12-month index change for non food
products has decreased to 3.0 per cent in August from 3.2 per cent
recorded in July.
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