Tanzania Annual Inflation Fell to 3% in December 2023, Down from 4.8% in December 2022

The National Bureau of Statistics of Tanzania (NBS) revealed that the Annual Headline Inflation Rate for December 2023 fell to 3.0% from 3.2% recorded in November 2023.

This is a much lower rate compared to the 4.8% recorded in December 2022 and results in an average annual inflation rate of 3.8 %in 2023, which is much less than 4.3% for 2022, but still slightly more than 3.7% in 2021.

Meanwhile, the overall National Consumer Price Index (NCPI) went up from 110.01 in December 2022 to 113.34 in December 2023.

The Food and Non-Alcoholic Beverages Inflation Rate for December 2023 fell to 2.3% from 3.7% in November 2023.

On the other hand, the Annual Inflation Rate for all items without food and non-alcoholic beverages for December 2023 increased to 3.3% from 3.0% in November 2023.

Monthly Consumer Price Index November-December 2023

The National Consumer Price Index between November and December 2023 has increased by 0.6%.

The increase in the overall index is attributed to price increases for some food and non-food items.

Some food items that contributed to an increase in the index include: wheat flour by 1.7%, sorghum flour by 6.7%, beef fresh meat by 2.2%, vegetables by 1.7%, cocoyams by 3.5%, cooking bananas by 3.1%, dried beans by 1.9%, dried peas by 1.7%, dried cowpeas by 1.5% and sugar by 4.0%.

Some Non-Food items that contributed to an increase in the index include: garments for women by 1.0%, rentals paid by tenants by 2.7%, gas by 1.0%, kerosene by 3.0%, firewood by 4.1%, bus fare by 5.5%, taxi fare by 1.9 and goods and services for personal care by 1.5%.

Changes in Tanzania National Consumer Price Indices (NCPI) for December 2023, (2020 = 100)