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Business News

Thu Aug 10, 2017

Inflation on downtrend -NBS


The National Bureau of Statistics (NBS) Director of Population Census and Social Statistics, Ephraim Kwesigabo said food and non-alcoholic beverages prices grew at a rate of 8.9 per cent year-on-year in July, down from 9.6 per cent in June, he said.

 

Cereals, fish, beans and vegetables were among the food items whose prices declined, he said.

 

The decline in price for the main food items includes meat for 3.8 per cent, raw fish at 14.1 per cent, sardines for 8.4 per cent, cabbage for 16.6 per cent, eggplant for 10.6, onions for 13.2 per cent, carrots at 16.9 per cent, green beans at 15.7 per cent and round potatoes at 13.5 per cent.

 

At 38 per cent, food has the largest weight in Tanzania’s inflation basket and tends to be the main factor behind any changes to inflation rates. Month-on-month inflation declined by 0.2 percent in July from a 0.1 percent drop in June.

 

He said the inflation decline in July was a regional phenomenon after it slowed in Kenya to 7.47 per cent from 9.21 per cent in June and in Uganda to 5.70 per cent in July from 6.4 per cent in June.

SOURCE: DAILY NEWS


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