Bloomberg News

Tanzania’s Annual Inflation Rate Declined to 19% in March

April 16, 2012

Tanzania’s inflation rate fell to 19 percent in March as energy and food-cost increases slowed, the National Bureau of Statistics said.

The inflation rate dropped from 19.4 percent in February, the Dar es Salaam-based agency said in a statement handed to reporters today in the city. Prices climbed 1 percent in the month in East Africa’s second-biggest economy, it said.

The annual increase in energy costs slowed to 29.4 percent from 33.5 percent, while food-price growth dropped to 24.9 percent from 25.5 percent, according to the statement.

Tanzania may achieve single-digit inflation this year, after the rate peaked at 19.8 percent in December driven by increasing food and energy prices, according to the International Monetary Fund.

“Based on a projected improvement in the food situation in the region, headline inflation is projected to return to single digits by end-2012,” the fund said on March 13.

To contact the reporter on this story: David Malingha Doya in Dar es Salaam via Nairobi at pmrichardson@bloomberg.net.

To contact the editor responsible for this story: Paul Richardson at pmrichardson@bloomberg.net


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