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Relief for consumers as food prices fall slightly

16th May 2012
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National Bureau of Statistics (NBS)

Prices of food stuffs fell slightly last month according to the National Bureau of Statistics (NBS) figures of the National Consumer Price Index (NCPI) released yesterday.
According to latest report, annual headline inflation rate for the month of April 2012 declined to 18 per cent compared to 19 per cent recorded in March this year.

Basically, the NCPI measures the change over time in the cost of a fixed basket of goods and services that are purchased by a representative sample of households in Tanzania.  A basket includes a list of 224 goods and services that are being priced on monthly basis.

“The decrease of headline inflation rate for April 2012 shows that the speed of price increase for commodities in April 2012 has slightly decreased compared to the speed recorded in March, same year,” noted NBS in an official statement.
It added that food and non-alcoholic beverages inflation rate has decreased to 25.3 per cent in April 2012 from 25.7 per cent recorded in March, this year.

Annual inflation rate for food consumed at home and away from home went down to 24.7 per cent in April, as compared to 24.9 per cent in March, explained the report, noting that “the 12 month index change for non food products also eased to 11.2 per cent in April 2012 from 11.5 per cent recorded in March 2012.

Some experts described the move as a relief to the ordinary food consumers.

Dr Marceline Chijoriga who is an economics lecturer at the University of Dar es Salaam (UDSM) described the trend as positive, saying it was relief to ordinary Tanzanians currently struggling out of economic woes triggered by high-food prices and inflation.

“It is a great relief to the ordinary food consumers if the overall consumer price index goes down…it implies that the purchasing power will increase, and this is a positive development, taking into account economic hardships facing many Tanzanians at the moment,” noted Chijoriga.

SOURCE: THE GUARDIAN
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