July inflation rate falls to 3.3 pct

THE annual headline inflation rate for July decreased slightly to 3.3 per cent from 3.4 recorded in June, on account of the decline of food and non-alcoholic beverages.

The National Bureau of Statistics (NBS), Director of Population, Census and Social Statistics, Mr Ephraim Kwesigabo said the decrease in headline inflation explains that the speed of price change for commodities in the year ending July has slightly decreased compared to those of the previous month.

“Annual headline inflation rates over the same period have decreased from 5.2 per cent in July 2017 to 3.3 per cent last year, a record in 15 years’ time” said Mr Kwesigabo yesterday in Dodoma.

He told reporters that inflation rate in July decreased to 2.8 per cent compared to 3.4 recorded in June, this year. Mr Kwesigabo said the decrease in overall index is mainly attributed to price decrease of food items. “Some of the food items that contributed to such decrease include rice by 2.6, maize flour by 2.0, fruits by 3.5, vegetables by 4.1, fresh cassava by 5.6 and cooking bananas by 2.9” he said.

He said the monthly change of consumer price index from June 2018 to last month has improved to negative 0.3 per cent compared to a negative change of 0.4 per cent recorded in June, this year from May, 2018.

Mr Kwesigabo attributed the negative change of the consumer price index for July to low prices for some food items due to higher supply of food items as compared to the demand.

Moreover, he said, annual inflation rate for food consumed at home and away from home has decreased to 3.0 per cent last month from 3.8 per cent recorded in June. In addition, he said, the 12-month index change for non food products last month increased to 4.2 per cent compared to 4.0 per cent recorded the previous month.

As for the neighbouring countries, he said Uganda the annual headline inflation rate in July 2018 has gone up to 3.1 per cent from 2.2 in June while Kenya is also experiencing increased annual inflation rate from 4.28 in June 2018 to 4.35 per cent last month.

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