Data from the National Bureau of Statistics (NBS) showed that the cost of living measure stood at 5.1 per cent in July, down from 5.5 per cent in June. “Annual headline inflation rate for the month of July 2016 has decreased to 5.1 per cent from 5.5 per cent recorded in June 2016,” NBS said.
According to NBS, food inflation decreased to 7.8 per cent in July compared to 8.3 per cent recorded in June, while that of energy stood at 7.3 per cent down from 7.5 per cent.
While issuing the monetary policy rate last month, the Bank of Tanzania said it had expected inflation to remain around the medium term target of 5 per cent this year. “Achievement of this target will be helped by subdued global oil prices, improvement in domestic power and food supply and continued stability in the value of the shilling,” the Central Bank said.
