DODOMA: The annual headline inflation rate for December 2024 increased to 3.1 per cent, up from 3.0 per cent recorded in November, the National Bureau of Statistics (NBS) announced on Wednesday.
A statement issued by NBS on Wednesday said that the increase rate has been influenced by both food and other commodities.
“This means that the rate of price changes for goods and services in the year ending December 2024 increased compared to the rate observed in November 2024,” the NBS stated.
The inflation rate for food and non-alcoholic beverages rose to 4.6 per cent in December, up from 3.3 per cent in November.
However, core inflation, which excludes food and non-alcoholic beverages, slowed to 2.5 percent in December, compared to 2.9 per cent in the previous month.
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Average annual inflation for 2024, spanning January to December, decreased to 3.1 per cent, down from 3.8 per cent recorded in 2023.
The food items that contributed to the annual inflation increase includes finger millet prices surged from 5.9 percent in November to 9.8 percent in December, Bread and other bakery products rose significantly from 11.1 percent to 15.3 percent, while beef prices climbed from 16.0 percent to 20.6 percent.
Other food items that experienced notable price hikes included fish, which increased by 18.0 per cent; beans, up by 7.3 per cent; powdered milk, which rose to 10.3 per cent; and groundnuts, which reached 10.7 per cent.
Prices for alcoholic beverages and tobacco increased by 2.2 per cent, school uniforms by 2.4 per cent, and construction materials by 1.2 per cent.
Charcoal prices saw a significant rise of 19.0 per cent, while restaurant services experienced a modest increase to 2.9 per cent.
In East Africa, Uganda’s annual inflation rate rose to 3.3 percent in the year ending November 2021, up from 2.9 percent.
Kenya also experienced a rise, with inflation increasing to 3.0 percent in the year ending November 2024, up from 2.8 percent.
