The National Bureau of Statistics of Tanzania (NBS) revealed that the annual headline inflation rate slowed down to 3.0% in July 2024 from 3.1% in June 2024.
The overall index went up from 112.67 recorded in July 2023 to 116.04 recorded in July 2024.
Food Inflation
The Food and Non-Alcoholic Beverages Inflation Rate for July 2024 has slightly increased to 1.0% from 0.9% in June 2024.
Non-Food Inflation
On the other hand, the Annual Inflation Rate for all items without food and non-alcoholic beverages for July 2024 has decreased to 3.8% from 4.0% in June 2024.
Core Inflation
Computation of the Core Index excludes items with volatile prices, such as unprocessed food, energy, and utilities, with the exception of maize flour. The exclusion of volatile prices from the total NCPI provides a more stable Inflation Rate figure for policymakers.
The Core Index covers 297 items, and the share of weight to total NCPI weight is 73.9%.
The inflation rate for the Core Index in July 2024 has decreased to 3.3% from 3.6% recorded in June 2024.
Monthly Consumer Price Index June-July 2024
The National Consumer Price Index between June 2024 and July 2024 has decreased by 0.2%. The decrease in the overall index is attributed to price decreases for some food and non-food items.
Some food items that contributed to a decrease in the index include wheat grains by 0.9%; rice by 4.3%; finger millet grains by 1.7%; maize grains by 2.9%; wheat flour by 0.3%; maize flour by 0.5%; vegetables by 2.4%; round potatoes by 0.2%; fresh cassava by 0.7%; dried beans by 1.5%; dried lentils by 0.4%; dried cowpeas by 2.3%, and flour of cassava by 2.4%.
Some non-food items that contributed to a decrease in the index include clothing materials by 0.3%; footwear for men by 0.1%; materials for the maintenance and repair of the dwelling by 0.1%; charcoal by 1.3%; parts for personal transport equipment by 1.4%; petrol by 1.6%, and mobile telephone handsets by 0.1%.
Changes in Tanzania National Consumer Price Indices (NCPI) for July 2024, (2020 = 100)
