9 March 2014

Tanzania: Inflation Rate Stable Since Start of Year

THE inflation rate in February 2014 has stagnated at 6.0 per cent as it was recorded in January 2014 National Bureau of Statistics has announced.

The stagnation of the rate for the month of February explains that the speed of price increase for commodities has remained the same as the speed recorded last month.

NBS's Director for Population Census and Social Statistics, Mr Epraim Kwesigabo, told reporters yesterday that the overall index went up to 148.62 in February 2014 from 10.23 recorded in February 2013.

He noted that the increase of overall index is attributed to price increase of both food and non food items. Some food items which contributed to the increase includes; dried sardines, dried fish, vegetable and round potato.

NBS Director added some of the non food items and services that contributed to an increase of the index include; local brew, materials for tailoring, shoes, plastic sandals, diesel, petrol and services for hair dressing and personal grooming.

Mr Kwesigabo also mentioned about annual inflation rate for food consumed at home and away from home has increased to 6.9 per cent in February 2014 from 6.6 per cent recorded in January 2014.

"The annual inflation rate which excludes food and energy for the month of February 2014 has slightly decreased to 4.8 per cent from 4.9 per cent recorded in January 2014," said Mr Kwesigabo

On the purchasing power of the Tanzanian shilling, Mr Kwesigabo said that the purchasing power of 100 shilling has decreased to 67 and 29 cents in February 2014 from September 2010.

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