Estimated read time 1 min read
Mar-22Apr-22May-22Jun-22Jul-22Aug-22Sep-22Oct-22Nov-22Dec-22Jan-23Feb-232022 Ave
Core Inflation2.7%2.8%3.0%3.4%3.5%3.2%3.3%3.0%2.7%2.5%2.5%2.4%3
Food Inflation6.5%6.6%5.5%5.9%6.5%7.8%8.3%9.1%9.5%9.7%9.9%9.6%
Tanzania has not experienced the excessive rise in inflation that most of the advanced economies and many emerging markets have suffered from since the second half of 2021 and the first half of 2022, with inflation remaining below 5.0%. At 4.8% Y/Y in February 2023, inflation has been relatively steady since rising to 4.8% in September 2022, and is only just over 1 percentage point higher than its 2021 average of 3.7%. Core inflation (inflation excluding food and energy fell from 2.5% in January 2023 to 2.4% last month, and has come in below 3.0% since November 2022. Nevertheless, Tanzania like much of the rest of the world has not being able to escape higher food prices, as food inflation stood at 9.6% in February 2023, its fifth month above 9.0%. Going forward, inflation might rise a bit more, but should still remain under control and remain below 10.0% unless a major adverse inflationary event occurs.

You May Also Like

More From Author

+ There are no comments

Add yours