Inflation on a steady downward trend driven by cereals
Maize (Corn)
Rice
Tanzania
Published Sep 10, 2020
Tridge summary
INFLATION continued its downward trend from 3.7 percent in July 2019 to 3.2 percent this year thanks to falling staple food prices including maize and rice.
Original content
Bank of Tanzania said in its Monthly Economic Review for August that despite surges in prices of most food stuffs, the two cereals which dominate Tanzanians dining tables had driven inflation down. “Wholesale prices for a 100 kilograms bag of maize and rice slightly went down when compared to last year. The development was a result of commencement of the harvest season,” the Central Bank said in its report which also noted that the trend has been sustained for the past three years. “Maize was sold at 58,362/- in July this year down from 61,341/- last year while price of rice dropped to 148,992/- from 162,418/-,” the report added. The prices are for a package of 100kgs bags. The report stated that prices for other major food commodities such as beans, sorghum, round potatoes and finger millet increased during the period compared to prices of maize and rice. “A 100kgs bag of beans was sold at 192,772/- up from the last year’s 160,044/-,” the report said. The BoT report further noted ...
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