The Latest

Tanzania’s Annual Inflation Decreases to 3.0% in October 2024

December 3, 2024
2 minute read
Tanzania Inflation Rates October 2024

The National Bureau of Statistics of Tanzania (NBS) revealed that the annual headline inflation rate for the month of September 2024 has decreased to 3.0% from 3.1% recorded in September 2024.

The overall index went up from 112.18 recorded in October 2023 to 115.54 recorded in October 2024.

Food Inflation

Tanzania Investment Guide 2026 Free Edition

Food and Non-Alcoholic Beverages Inflation Rate for October 2024 has stagnated at 2.5% as recorded in September 2024.

Non-Food Inflation

The Annual Inflation Rate for all items without food and non-alcoholic beverages for October 2024 has decreased to 3.2% from 3.4% recorded in September 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.

Tanzania Investment Guide 2026 Full Edition

Excluding 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 the total NCPI weight is 73.9%.

The inflation rate for the Core Index in October 2024 has stagnated at 3.2% as it was recorded in September 2024.

Monthly Consumer Price Index September-October 2024

The National Consumer Price Index (NCPI) between September 2024 and October 2024 has decreased from 115.88 to 115.54. The overall index decrease is attributed to price reductions for some food and non-food items.

Food items that contributed to the decrease include wheat grains by 0.9%, rice by 1.7%, sorghum grains by 0.9%, wheat flour by 0.6%, oils and fats by 0.2%, vegetables by 3.4%, round potatoes by 2.6%, sweet potatoes by 0.5%, fresh cassava by 7.2%, cocoyams by 4.4%, cooking bananas by 5.1%, cassava dry by 1.9%, cassava flour by 4.1%, and sugar by 1.1%.

Non-food items that contributed to the decrease include garments for women by 0.3%, footwear for men by 0.1%, materials for the maintenance of the dwelling by 0.2%, kerosene by 3.0%, firewood by 2.4%, wood charcoal by 1.2%, household furniture by 0.1%, diesel by 4.7%, petrol by 3.8%, laptop computers by 0.2%, television sets by 0.2%, and recreation, sport, and culture by 0.1%.

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

TANZANIA ANNUAL HEADLINE INFLATION OCTOBER 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.

Download Free OverviewGet the Full Guide
Tweet
Share
Share
Share
Related Posts
Tanzania Khamis Mussa Omar Parliament bunge
Read More

Tanzania Finance Bill 2026 Drops Agricultural Withholding Tax, Softens Used Car Duties and Cuts SME Presumptive Tax to 4%, Effective 1 July 2026

Tanzania’s Finance Bill 2026, presented to Parliament on 24 June 2026 by Finance Minister Ambassador Khamis Mussa Omar, takes effect on 1 July 2026 and amends 26 laws to implement the 2026/27 budget tax measures. The Parliamentary Budget Committee dropped the proposed 1% withholding tax on agricultural produce, the proposed 5% excise on motorcycles and on gambling stakes, softened excise duties on imported used vehicles, cut the SME presumptive tax to 4.0% from 4.5%, confirmed mining Framework Agreement tax incentives during the construction phase, and introduced a new 0.5% stamp duty on agricultural land transfers.
TanzaniaInvest Interview FAyaz Bhojani Managing Partner FB Attorneys
Read More

Interview with Dr FAyaz Bhojani, Managing Partner of FB Attorneys, on the Evolution of the Firm, and Litigation, Arbitration and Taxation Issues in Tanzania

TanzaniaInvest interviewed Dr FAyaz Bhojani, Managing Partner of FB Attorneys, the only law firm in Tanzania ranked at the top by all three leading international legal directories, Chambers and Partners, IFLR1000, and The Legal 500. He discusses the firm’s cross-border and arbitration work, its strength in mining, oil and gas, and M&A, and the two factors foreign investors weigh most before entering Tanzania: the rule of law and a fair, predictable tax system.
Juma Malik Akil Zanzibar Budget 2026-2027 House of Representatives
Read More

Zanzibar Passes 2026/2027 Budget of TZS 8.52 Trillion, Targeting 7.5% GDP Growth, Stock Exchange Launch, and Investment Priority on Tourism, the Blue Economy, and SMEs

Zanzibar passed a TZS 8.52 trillion (± USD 3.28 billion) budget for 2026/27, a 22.11% increase, targeting 7.5% economic growth and reducing external financing dependence to 2.8% as tourist arrivals rose 21.9% to 800,968. Priority sectors are tourism, agriculture, fisheries, small and medium enterprises and the blue economy, with investor measures including the planned launch of a Zanzibar stock exchange, raw materials relief for small and medium manufacturers outside ZIPA, and a 25% stamp duty cut on commercial vehicles.

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 includes policies, taxation, key regulations, full macroeconomic data, and sources.

Download Free Overview Get the Full Guide