Tanzania’s inflation rises to five-year record high on increased transport

Tanzania’s annual inflation rate accelerated to 4.5 per cent in July 2022, the highest since October of 2017, from 4.4 per cent in the previous month.

According to a statement by the National Bureau of Statistics (NBS), the speed of price change for commodities for the month of July 2022 increased compared to the speed recorded for the month of June 2022.

The statistics body said prices pressure came mostly from transport (8.7 percent); food & non-alcoholic beverages (6.5 percent), housing & utilities (4.1 percent) and furnishing and household goods (3.9 percent).

According to NBS, Food and Non-Alcoholic Beverages Inflation Rate for July 2022 increased to 6.5 per cent from 5.9 per cent recorded in June 2022.

“On the other hand, Annual Inflation Rate for all items without Food and Non-Alcoholic Beverages for July, 2022 has slightly decreased to 3.8 per cent from 3.9 per cent recorded in June, 2022,” the statement said.

On a monthly basis, consumer prices went up 0.1 per cent, following a 0.5 per cent increase in June.

The overall index went up from 104.32 recorded in July 2021 to 109.05 in July 2022.