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Inflation

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Tanzania Inflation Rates 2012-2021

Tanzania Inflation in 2022

In the first quarter of 2022 (January to April), the average annual headline inflation in Tanzania was 3.8% versus 3.3% in Q1 2021.

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%.

Tanzania Inflation in 2021

In 2021, the average annual headline inflation in Tanzania was 3.7% versus 3.3% in 2020.

The headline inflation declined dramatically in the last decade, from an annual average of 16% in 2012 to 3.7% in 2021.

Generally, the fall has been on account of improved food supply in the domestic market and neighboring countries, stability of global oil prices, and prudent fiscal and monetary policies.

The increase in inflation from 2020 to 2021 is mainly attributed to an increase of core inflation to 4.1% from an average of 2.3% recorded in 2020.

However, the annual average inflation rate for food and non-alcoholic beverages has decreased to 4.2 % in 2021 from 4.8% recorded in 2020.

The annual average inflation rate for all items without food and non-alcoholic beverages in 2021 has also decreased to 3.5% from 3.7% in 2020.

In 2021, the lowest inflation rate was 3.2% noted in March and the highest rate was 4.2% in December 2021.

Tanzania Inflation Rates 2021

Latest update: 10th May 2022

Sources: Tanzania National Bureau of Statistics (NBS), Tanzania Ministry of Finance, World Bank (WB).