The Latest

Tanzania’s Annual Inflation Down to 3.0% in July 2024

August 12, 2024
2 minute read
Tanzania Annual Inflation Rate July 2024

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

Tanzania Investment Guide 2026 Free Edition

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.

Tanzania Investment Guide 2026 Full Edition

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)

TANZANIA ANNUAL HEADLINE INFLATION FOR JULY 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