Tanzania: Annual Headline Inflation Rate Slightly Increases – AllAfrica.com


THE annual average headline inflation rate for December, 2021, has slightly increased to 4.2 per cent from 4.1 per cent recorded in November, 2021 the National Bureau of Statistics (NBS) has said. The price indices increased from 100.73 in December 2020 to 104.92 in December 2021.
Addressing a press conference in Dar es Salaam, NBS Acting Director of Population, Census and Social Statistics, Ms Ruth Minja said national inflation is still within the 5.0 percent, noting that government inflation target will go hand in hand with projected economic growth.
Ms Minja said for the year 2020 the lowest inflation rate was 3.0 per cent in November 2020 and the highest rate was 3.7 per cent recorded in January and February, 2020.
Adding to that, the country’s average inflation rate of 3.7 percent is within the 8.0 percent inflation target of the East African Community and SADC countries where it is between 3.0 to 7.0 percent, so Tanzania is doing well in terms of regulation of prices for goods and social services.
NBS revealed that Inflation has been a strong tendency throughout the year with the lowest rate of 3.2 percent in March, 2021 and the highest rate at 4.2 percent in December, 2021. Ms Minja explained that Tanzania’s headline inflation rate for (January to December) 2021, has increased to 3.7 per cent from 3.3 percent (January to December, 2020).
In comparison with other East African countries of Kenya and Uganda, she said in Uganda inflation increased to 2.9 per cent, 2021 from 2.6per cent recorded in November, 2021. While in Kenya, the annual headline inflation rate decreased to 5.73 per cent from 5.80 per cent recorded in November 2021.
She said the average increase in national inflation has been attributed to the increase in core inflation which increased to 4.1 percent in 2021, from an average of 2.3 percent in 2020.
The increase in national inflation for the year ended 2021 December has been attributed to the inflation of food items for the period ended December 2021 compared to December 2020.
She mentioned some food items increased in price for December 2021 compared to December 2020 prices include rice by 2.6 per cent, maize grains by 2.8 per cent, beef Meat 6.4, Goat meat 8.3 per cent, eggs 4.8 per cent, round potatoes by 5.3 per cent, and beverages 5.1 per cent.
Read the original article on Daily News.
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