Tanzania Investment and Consultant Group Ltd

| Economic Research Centre

Economists talk July-2023
July 1, 2023  
In May, inflation rates lowered from 4.3% to 4%, owing mostly to lower prices for major commodities. Food and non-alcoholic beverages surged by more than 8% year on year, while alcohol and cigarette expenditures increased by 2.2% and 0.70%, respectively, in a month. Clothing and footwear prices increased by 0.25% and 3.3%, respectively, while housing, […]

In May, inflation rates lowered from 4.3% to 4%, owing mostly to lower prices for major commodities. Food and non-alcoholic beverages surged by more than 8% year on year, while alcohol and cigarette expenditures increased by 2.2% and 0.70%, respectively, in a month. Clothing and footwear prices increased by 0.25% and 3.3%, respectively, while housing, water, electricity, and other energy prices increased by 0.50% and 1%. Health expenditures increased by 0.04%, transportation costs by 0.33%, and communication costs by 0.16%. Education service costs increased by 0.34% in one month, but remained expensive for the majority of society.

Tanzania's money supply went down from 12.6% in April to 10.4%, with foreign currency deposits increasing by 23.3%. The narrow money supply has also climbed to 14.3%, as have net foreign assets. In one month, the Bank of Tanzania cut money in circulation from -11.8% to -11.5 percent.

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