The Latest

Tanzania’s Annual Inflation Stayed at 3.1% in May 2024

June 12, 2024
1 minute read
Tanzania Annual Inflation Rate May 2024

The National Bureau of Statistics of Tanzania (NBS) revealed that the annual headline inflation rate remained at 3.1% in May 2024, the same as in April 2024.

The overall index went up from 112.72 recorded in May 2023 to 116.18 recorded in May 2024.

    The Food and Non-Alcoholic Beverages Inflation Rate for May 2024 has increased to 1.6% from 1.4% which was recorded in April 2024.

    Tanzania Investment Guide 2026 Free Edition

    On the other hand, the Annual Inflation Rate for all items without food and non-alcoholic beverages for May 2024 has decreased to 3.7% from 3.9% that was recorded in April 2024.

    Monthly Consumer Price Index April-May 2024

    The National Consumer Price Index between April 2024 and May 2024 has increased by 0.1%. 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: finger millet grains by 1.0%; sunflower oil by 1.1%; vegetables by 1.6%; round potatoes by 4.1%; fresh cassava by 1.2%; dried beans by 4.2%; and dried peas (njegere kavu) by 1.2%.

    Some non-food items that contributed to an increase of the index include footwear for men by 0.4%; footwear for women by 0.3%; firewood by 1.5%; charcoal by 2.4%; petrol by 2.0%; and personal care by 0.3%.

    Changes in Tanzania National Consumer Price Indices (NCPI) for May 2024, (2020 = 100)

    TANZANIA ANNUAL HEADLINE INFLATION FOR MAY 2024

    Want to know more about the Economy in Tanzania? Our free overview of the Tanzania Business and Investment Guide 2026 covers the Economy, plus key sectors and investment opportunities. The complete 141-page edition includes policies, taxation, key regulations, full macroeconomic data, and sources, and is also available at no cost upon completion of a short form.

    Download Free OverviewGet the Full Edition for Free
    Tweet
    Share
    Share
    Share
    Related Posts
    Interview Jana Bricco IMF Resident Representative Tanzania no logo
    Read More

    Interview with Jana Bricco, New IMF Resident Representative in Tanzania, on Economic Growth, Private Investment, and Needed Reforms

    In this exclusive interview with TanzaniaInvest, the new IMF Resident Representative Jana Bricco says Tanzania can sustain growth of around 6% by preserving macroeconomic stability and accelerating reforms supporting private investment, productivity and jobs. She calls for fewer regulatory obstacles, more predictable taxation, faster VAT refunds and better access to finance for businesses and SMEs, and explains how IMF support will evolve following the end of its financing programmes, with the relationship now focused on policy dialogue and capacity development.
    Tanzania Qatar Tax Treaty Signature
    Read More

    Tanzania and Qatar Sign Tax Treaty to Boost Investment

    Tanzania and Qatar signed a Double Taxation Agreement (DTA) on 29 September 2026, eliminating double taxation on cross-border income between the two countries. Both countries are now moving toward rapid implementation, aiming to deepen economic cooperation and attract new investment across infrastructure, energy, tourism and financial services.
    Samia Suluhu Hassan Tanzania Cabinet reshuffle September 2026
    Read More

    Tanzania Names New Works, Energy and Legal Affairs Ministers

    President Samia Suluhu Hassan reshuffled Tanzania's Cabinet on 27 September 2026, naming new ministers for Works, Energy, and Constitution and Legal Affairs. Four other senior appointments were also announced, including a new Chief Medical Officer and Deputy Permanent Secretary for Finance.

    Want to know more about investing in Tanzania? Our free overview of the Tanzania Business and Investment Guide 2026 covers the economy, key sectors and investment opportunities. The complete 141-page edition, which includes policies, taxation, key regulations, full macroeconomic data and sources, is also available at no cost upon completion of a short form.

    Download Free Overview Get the Full Edition for Free