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Tanzania’s Annual Inflation Stagnates at 3.1% in September 2024

October 15, 2024
2 minute read
Tanzania Annual Inflation Rate September 2024

The National Bureau of Statistics of Tanzania (NBS) revealed that the annual headline inflation rate for the month of September 2024 has stagnated at 3.1% as it was recorded in August 2024.

The overall index went up from 112.35 recorded in September 2023 to 115.88 recorded in September 2024.

Food Inflation

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Food and Non-Alcoholic Beverages Inflation Rate for September 2024 has decreased to 2.5% from 2.8% which was recorded in August 2024.

Non-Food Inflation

On the other hand, the Annual Inflation Rate for all items without food and non-alcoholic beverages for September 2024 has increased to 3.4% from 3.3% that was recorded in August 2024.

Core Inflation

Computation of the Core Index excludes items with volatile prices that 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.

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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 September 2024 has stagnated at 3.2% as it was recorded in August 2024.

Monthly Consumer Price Index August-September 2024

The National Consumer Price Index between August and September, 2024 has increased from 115.78 to 115.88.

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: sorghum flour by 1.2%, maize flour by 1.7%, fresh meat by 1.8%, fresh fish by 2.3%, dried fish by 3.0%, cooking oil by 1.2%, round potatoes by 4.3%, fresh cassava by 7.5%, and cooking bananas by 4.6%.

Some non-food items that contributed to an increase in the index include: firewood by 0.9%, charcoal by 0.5%, major household appliances by 0.5%, mobile telephone handsets by 0.8%, laptops by 2.7%, television sets by 0.4%, and recreation, sport, and culture by 0.4%.

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

TANZANIA ANNUAL HEADLINE INFLATION FOR SEPTEMBER 2024

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