According to the National Bureau of Statistics (NBS) in Tanzania, the country’s annual Headline Inflation Rate fell to 4.0 per cent in May 2023, compared to 4.3 per cent in April 2023. This means that the rate at which prices of goods and services changed in May 2023 decreased compared to April 2023.
The overall index, which represents the general price level, increased from 108.42 in May 2022 to 112.72 in May 2023, indicating a general rise in prices over this period.
The Food and Non-Alcoholic Beverages Inflation Rate for May 2023 decreased to 8.5 per cent from 9.1 per cent in April 2023. This means that the prices of food items and non-alcoholic beverages increased slower in May than in April.
The Annual Inflation Rate for all items excluding food and non-alcoholic beverages, in May 2023 also decreased to 2.1 per cent from 2.3 per cent in April 2023. This indicates that prices for non-food items increased slower in May compared to April.
Between April 2023 and May 2023, the National Consumer Price Index increased by 0.2 per cent. This increase in the index is attributed to the price increase of some food and non-food items.
Some food items that contributed to the increase in the index include wheat flour, maize flour, pasta products, poultry meat, dried sardines, dried fish, vegetable oils, Irish potatoes, dried lentils, dried peas, cassava flour, and mineral waters.
Some non-food items that contributed to the increase in the index include domestic manufactured spirits, garments for men, garments for women, garments for infants, footwear for men, actual rentals paid by tenants, firewood, wood charcoal, furnishings, household equipment, routine household maintenance, petrol, passenger transport by taxi, passenger transport by air, food provided by full-service restaurants, accommodation services in hotels and guest houses, and handbags.
These figures provide insights into the inflationary trends in Tanzania, indicating the changes in prices for various goods and services over time.