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Business News

Thu Aug 10, 2017

Zanzibar records marginal inflation drop


The Office of Chief Government Statistician (OCGS-Zanzibar) announced yesterday that prices may continue to go down in the coming months.

 

OCGS’s Department of Economical Statistics Ms Salma Saleh Ali said food and non-alcohol beverages inflation rate decreased to 2.7 percent for the year ended last month compared to the 4.6 percent recorded during the year ended June last year.

 

She attributed the decreases of monthly rate to drop for prices of items such as Mbeya rice down by 2.1 per cent, maize flour (-10.9 percent), and green cooking Banana (-34.2 percent).

 

Others are yellow cooking banana (-32.8 percent).sugar (-0.3 percent), kerosene (-3.8 percent), and petrol (-2.6 percent). Zanzibar Institute of Financial Administration (ZIFA), Economist Dr Suleiman Simai Msaraka said the recently agro-output have assisted to bring down inflation to the advantage of people.

 

Mr Msaraka said increasing farm produce has also helped to control inflation, to the advantage of the majority poor people and that many essential commodities are now affordable at the local market.

 

While the annual inflation rate for food decreased to 2.3 percent for the ended last month compared to 4.3 per cent recorded previous month, the overall index for food increased to 104.5 percent this July compared to the 102.1 percent of last July.

 

The Zanzibar Consumer Price Index covers prices of 343 products collected in 641 outlets in Unguja and Pemba Islands Urban centers.

SOURCE: DAILY NEWS


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