Annual inflation rate in Tanzania eased for the third straight month to 3.6 in March of 2022, from 3.7% in February reaching its lowest point since last June.
Prices slowed mostly for transport (2.9% vs 3.7% in February), clothing & footwear (2.4% vs 2.8%), housing & utilities (3.2% vs 3.5%) and restaurants & hotels (2.4% vs 2.7%).
Meanwhile, food prices continued to increase (6.5% vs 6.1%). On a monthly basis, consumer prices rose by 0.8%, up from a 0.6% rise in the prior month.
In Tanzania, the National Consumer Price Index (NCPI) measures the change over time in the cost of a fixed basket of goods and services purchased by a representative sample of households.
The most important categories in the NCPI are Food and Non Alcoholic Beverages (38.5% of total weight), Transport (12.5%), Housing, Water, Electricity, Gas and Other Fuel (11.6%), Clothing and Footwear (8.3%), and Furnishing, Housing Equipment and Routine Maintenance of the House (6.3%).
The index also includes Communication (5.6% of total weight), Restaurants and Hotels (4.2% of total weight), Alcoholic Beverages and Tobacco (3.7%), Miscellaneous Goods and Services (3.1%), Health (2.9%), Recreation and Culture (1.6%) and Education (1.5%).
Inflation rates have risen across East African nations as global food, fuel prices jump following the war in Ukraine, with the exception of Tanzania.
March 2022 inflation rate was as follows:
- •Rwanda – 7.5%
- •Kenya – 5.6%
- •Uganda – 3.7%
- •Tanzania – 3.6%
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