The National Bureau of Statistics of Tanzania (NBS) revealed that the annual headline inflation rate for the year ending November 2024 has stagnated at 3.0% as recorded in October 2024.
The overall index went up from 112.67 recorded in November 2023 to 116.05 recorded in November 2024.
Food Inflation
Food and Non-Alcoholic Beverages Inflation Rate for November 2024 has increased to 3.3% from 2.5% which was recorded in October 2024.
Non-Food Inflation
On the other hand, the Annual Inflation Rate for all items without food and non-alcoholic beverages for November 2024 has decreased to 2.9% from 3.2% recorded in October 2024.
Core Inflation
Computation of the Core Index excludes items with volatile prices, that is unprocessed food; energy and utilities, except maize flour.
The exclusion of 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 total NCPI weight is 73.9%.
The inflation rate for the Core Index in November 2024 has increased to 3.3% from 3.2% which was recorded in October 2024.
Monthly Consumer Price Index October-November 2024
The National Consumer Price Index between October 2024 and November 2024 has increased from 115.54 to 116.05. 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: finger millet grains by 4.2%, maize grains by 4.1%, poultry by 1.6%, beef meat by 3.5%, meat of goat by 2.3%, poultry meat by 1.5%, fresh fish by 4.4%, oils and fats by 1.2%, fruits by 0.8%, groundnuts by 5.0%, sweet potatoes by 2.3%, fresh cassava by 3.3%, cocoyams by 1.1%, dried lentils by 2.1%, and cassava flour by 2.3%.
Some non-food items that contributed to an increase in the index include: cigarette by 0.3%, garments for women by 0.2%, footwear for men by 0.6%, actual rentals paid by tenants by 0.3%, charcoal by 1.5%, household furniture by 0.4%, household appliances by 0.6%, recreation, sport and culture by 0.3%, and personal care by 0.4%.
Changes in Tanzania National Consumer Price Indices (NCPI) for November 2024, (2020 = 100)
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