ONOMO Hotel Dar es Salaam

Tanzania’s Annual Inflation Slightly Up to 4.9% in January 2023

Tanzania Inflation January 2023

The National Bureau of Statistics of Tanzania (NBS) revealed that the Annual Headline Inflation Rate for the month of January 2023 has increased to 4.9% from 4.8% which was recorded in December 2022.

Meanwhile, the overall index went up from 105.59 recorded in January 2022 to 110.81 in January 2023.

Food and Non-Alcoholic Beverages Inflation Rates

The Food and Non-Alcoholic Beverages Inflation Rate for January 2023 has increased to 9.9% from 9.7% which was recorded in December 2022.

TanzaniaInvest Whatsapp Channel

On the other hand, the Annual Inflation Rate for all items without food and non-alcoholic beverages for January 2023 has slightly increased to 3.0% from 2.9% which was recorded in December 2022.

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

Tanzania Changes in the Consumer Price Index for January 2023

Tanzania Monthly Inflation Rate – January 2023

The National Consumer Price Index between December 2022 and January 2023 has increased by 0.7%.

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

Some food items that contributed to an increase in the index include: wheat grains by 2.5%, rice (2.9%), maize grains (5.0%), wheat flour (0.6%), sorghum flour (2.9%), maize flour (3.3%), fruits (0.6%), vegetables (3.3%), round potatoes (6.2%), sweet potatoes (6.3%), fresh cassava (4.3%), cocoyam (0.9%), cooking bananas (2.7%), dried beans (5.5%), dried lentils (4.3%), cowpeas (6.7%) and dry cassava (7.0%).

Some non-food items that contributed to an increase in the index include: garments for men (0.2%), garments for women (0.5%), garments for infants (0.5%), school uniforms (0.9%), footwear for women (0.8%), actual rentals paid by tenants (0.2%), cooking gas (0.1%), kerosene (0.9%), firewood (0.5%), furniture (0.3%), household appliances (1.4%), diesel (1.6%), petrol (0.6%), passenger transport by road (1.7%), school fees (2.4%), accommodation services in hotels, lodges and guest houses (3.0%) and goods and services for personal care by 0.7%.

In 2022 (January to December) the average annual headline inflation in Tanzania was 4.3%. In 2021 it was 3.7% and 3.3% in 2020.

RELATED:  Tanzania Annual Inflation Remained at 3% in March 2024

However, the trend is clearly upward, with annual inflation reaching a five-years in October 2022 at a rate of 4.9% and slightly going down only in December 2022 at 4.8%.

Still, it remains within the target range of 3.0%-5.0% over the medium term included in the Tanzania Five-Year Development Plan (FYDP III). It also falls below the EAC inflation target of 8% and the SADC region which ranges between 3% and 7%.

Related Posts