Inflation down 5.6pc as oil prices dip
NBS director of population, census and social statistics, Mr Ephraim Kwesigabo.
What you need to know:
That happened because oil and food prices decreased, the National Bureau of Statistics (NBS) said in a statement yesterday.
Dar es Salaam. Inflation slipped to 5.6 per cent last month compared with 6.5 per cent the previous month.
That happened because oil and food prices decreased, the National Bureau of Statistics (NBS) said in a statement yesterday.
The fall in the annual headline inflation rate explains that the speed of price increase for commodities in the year ending February 2016 decreased compared with the speed of price increase for the year ended January 2016.
“Prices of oil fell while prices of food excluding sugar and rice stabilised,” said the NBS director of population, census and social statistics, Mr Ephraim Kwesigabo.
Oil prices have been decreasing in the world market.
The latest change was effected in Tanzania on March 2 where retail petrol price decreased by 1.7 per cent a litre.
Prices for diesel and kerosene fell by 7.1 per cent and 13.75 per cent respectively.
Food and non-alcoholic beverages inflation rate which accounts for 38.5 per cent weight decreased to 9.5 per cent in February from 10.7 per cent in January, 2016, according to the statement.
Annual inflation rate for food consumed at home and away from home decreased to 8.1 per cent from 10.3 per cent recorded during the same period.
The monthly headline inflation rate for February stagnated at 0.7 per cent as it was recorded in January 2016.
The purchasing power of the consumer’s Sh100, which measures the change in the value of consumer goods and services that the Tanzanian shilling could buy at different periods, reached Sh98 and 58 cents in February 2016 from December 2015.
