africa Economy Food Tanzania

Tanzania: inflation rate goes down as food prices take a dive

The annual headline inflation for May, 2018 decreased by 3.6 per cent compared to the previous month, thanks to a slight change in food prices.

National Bureau of Statistics (NBS) Director of Population, Census and Social Statistics, Mr Ephraim Kwesigabo told journalists in Dar es Salaam yesterday that inflation rate for the month decreased to 3.6 from 3.8 per cent recorded in April.

According to him, this means speed of price change of products and services for the last year in May 2018 have decreased compared to the annual speed of the ended April 2018. “The speed of price change of food items decreased in May compared to April this year,” said Kwesigabo.

The director said the inflation decrease is due to the drop of price of food products. He mentioned some of food items which contributed to the inflation decrease in May as maize (10.3 per cent), maize flour (12.5 per cent), millet (13.8 per cent), cassava flour (15.2 per cent), potato (9.0 per cent) and raw cassava (12.6 per cent).

He said for the other East African countries, Uganda inflation situation for May 2018 decreased to 1.7 per cent from 1.8 per cent recorded in April 2018 and Kenya inflation in May 2018 increased to 3.95 per cent from 3.73 per cent recorded in April 2018

Source: allAfrica

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