By Katare Mbashiru in Dodoma
EVEN as the country
continues battling the deadly Covid-19 pandemic, the annual headline
inflation rate for
March has decreased to 3.4 per cent from 3.7 per cent
recorded during the corresponding period in February.
According to
National Bureau of Statistics (NBS) Acting Director of Population,
Census and Social Statistics, Ruth Davison, the decrease of the headline
inflation explains that, the speed of price change for commodities for
the year ended March has decreased compared to the speed recorded for
the year ended February.
"The overall index went up to 120.20 in March, 2020 from 116.23 recorded in March, 2019," she noted.
In what appears as
good news in the economies of the East African Member States, even as
the deadly coronavirus pandemic continues biting, East African countries
have recorded falling inflation rates, with Uganda recording the least
headline inflation compared to Tanzania and Kenya for the year ending
March 2020.
According to Ms
Davison, the Uganda Bureau of Statistics reported a 3.0 per cent
inflation in March, from 3.4 per cent reported in February, While Kenya
National Bureau of Statistics reported a slight decrease of 6.06per cent
headline inflation rate from 6.37 recorded during the corresponding
period in February 2019.
The National
Consumer Price Index (NCPI), measures the change over time in the cost
of a fixed basket of goods and services that are purchased by a
representative sample of households in Tanzania.
A basket includes a
list of 278 goods and services of which 97 are Food and Non-Alcoholic
Beverages and 181 are Non-Food items that are being priced on monthly
basis.
The NCPI weights
are based on monetary expenditures relating to consumption for all
households in the 25 geographic regions of Tanzania Mainland.
The index weights
are based on expenditures of both urban and rural households derived
from 2011/12 Household Budget Survey and the price reference period is
December, 2015.
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