Tanzania CPI April 2026: Inflation Rises to 4.0% | TICGL Economic Intelligence
Official Data — NBS Tanzania · Released 8 May 2026
Tanzania Inflation Rises to 4.0% in April 2026
The National Consumer Price Index (NCPI) for April 2026 signals rising inflationary pressure, driven by a sharp surge in transport costs, accelerating food prices, and a spike in fuel and energy. TICGL presents the full data with interactive charts and expert context.
📅 Reference period: April 2026🏛️ Source: National Bureau of Statistics (NBS)🇹🇿 Coverage: All 26 Mainland Regions📊 Base Year: 2020 = 100
Headline Inflation
4.0%
▲ from 3.2% (Mar 2026)
Food Inflation
5.7%
▲ from 5.5% (Mar 2026)
Core Inflation
3.1%
▲ from 2.2% (Mar 2026)
Transport (YoY)
9.2%
▲ Highest category
Section 1
About the National Consumer Price Index (NCPI)
The NCPI, published by Tanzania's National Bureau of Statistics (NBS), is the country's official measure of consumer price inflation. It tracks how the cost of a fixed basket of goods and services changes over time for a representative sample of Tanzanian households.
383
Total goods & services in basket
132
Food & non-alcoholic beverage items
251
Non-food items tracked
📍 Geographic Coverage
Price data is collected from all 26 regional headquarters on the Tanzanian mainland, ensuring nationwide representativeness across both urban and rural areas.
⚖️ Weights & Reference
Weights are derived from the 2017/18 Household Budget Survey, covering urban and rural households. The base price reference period is Jan–Dec 2020; index reference year is 2020.
🗂️ Classification Standard
The NCPI follows the UN COICOP 2018 classification, disseminated across 13 expenditure divisions. Supplementary indices include the Core Index, Energy Index, Services Index, and Goods Index.
📐 Index Formula
Elementary aggregates use the geometric mean of price relatives. Higher-level aggregates use the Lowe Index formula (a type of Laspeyres index), ensuring methodological alignment with international standards.
💡
Why it matters for investors: The NCPI is the primary instrument used by the Bank of Tanzania to calibrate monetary policy. Rising inflation—especially in food and transport—directly affects consumer purchasing power, wage demands, and the operating costs of businesses across all sectors.
Section 2
Annual Headline Inflation: 4.0% in April 2026
Tanzania's annual Headline Inflation Rate for April 2026 jumped to 4.0 percent, a significant increase from the 3.2 percent recorded in March 2026. The overall NCPI index rose from 119.78 in April 2025 to 124.61 in April 2026, reflecting broad-based price pressures across the economy — with transport being the most acute pressure point.
⚠️
Significant acceleration: The jump from 3.2% to 4.0% in a single month is notable. This 0.8 percentage point increase is largely driven by a 29.3% surge in diesel prices and a 29.6% rise in petrol between March and April 2026 — suggesting fuel cost pass-through into transport fares and general goods.
Chart 1: NCPI Index Value & Annual Inflation Rate — Apr 2025 to Apr 2026
Base year 2020 = 100 | Source: National Bureau of Statistics (NBS), Tanzania
Source: NBS Tanzania, May 2026
The chart above illustrates a broadly stable period from April 2025 through mid-2025, followed by a gradual upward trend beginning in late 2025 and accelerating into 2026. The inflation rate, which hovered between 3.2% and 3.5% for most of the year, broke above this band sharply in April 2026.
Section 3
NCPI by Expenditure Group — Full Breakdown
The table below presents the complete NCPI data for all 13 COICOP expenditure divisions, plus selected supplementary indices. Figures compare April 2025, March 2026, and April 2026 index values, along with 1-month and 12-month percentage changes.
Chart 2: 12-Month Inflation Rate by Expenditure Group — April 2026
Annual percentage change, base 2020 = 100
Source: NBS Tanzania, May 2026
#
Expenditure Group
Weight (%)
Apr 2025
Mar 2026
Apr 2026
1-Month Δ
12-Month Δ
1
Food & Non-Alcoholic Beverages
28.2
130.62
136.88
138.12
+0.9%
+5.7%
2
Alcoholic Beverages & Tobacco
1.9
112.14
114.41
114.74
+0.3%
+2.3%
3
Clothing & Footwear
10.8
114.51
115.99
116.35
+0.3%
+1.6%
4
Housing, Water, Electricity, Gas & Other Fuels
15.1
118.90
119.82
120.93
+0.9%
+1.7%
5
Furnishings, Household Equipment & Maintenance
7.9
115.35
117.82
118.35
+0.4%
+2.6%
6
Health
2.5
109.31
110.35
111.03
+0.6%
+1.6%
7
Transport ⚡ Highest inflation
14.1
119.73
124.22
130.68
+5.2%
+9.2%
8
Information & Communication
5.4
106.17
107.20
107.18
0.0%
+1.0%
9
Recreation, Sport & Culture
1.6
111.13
111.65
111.93
+0.3%
+0.7%
10
Education Services
2.0
112.16
113.22
115.03
+1.6%
+2.6%
11
Restaurants & Accommodation Services
6.6
117.08
119.07
119.13
+0.1%
+1.8%
12
Insurance & Financial Services
2.1
102.46
102.57
102.59
0.0%
+0.1%
13
Personal Care, Social Protection & Misc.
2.1
118.05
121.88
122.15
+0.2%
+3.5%
TOTAL – ALL ITEMS INDEX
100.0
119.78
123.04
124.61
+1.3%
+4.0%
Supplementary Index Aggregations
Supplementary Index
Weight (%)
Apr 2025
Mar 2026
Apr 2026
1-Month Δ
12-Month Δ
Core Index
73.9
115.66
117.96
119.29
+1.1%
+3.1%
Non-Core Index
26.1
131.47
137.45
139.73
+1.7%
+6.3%
Energy, Fuel & Utilities Index ⚡
5.7
134.05
134.36
141.15
+5.1%
+5.3%
Services Index
37.2
112.54
114.99
117.07
+1.8%
+4.0%
Goods Index
62.8
124.07
127.80
129.09
+1.0%
+4.0%
Education Services & Products Index
4.1
114.37
115.22
116.02
+0.7%
+1.4%
All Items Less Food & Non-Alcoholic Beverages
71.8
115.53
117.60
119.31
+1.5%
+3.3%
Source: NBS Tanzania — NCPI Press Release, 8 May 2026
Section 4
Food & Non-Alcoholic Beverages Inflation: 5.7%
Food inflation rose to 5.7% year-on-year in April 2026, up from 5.5% in March 2026. With a basket weight of 28.2%, food is the single largest expenditure category and a critical driver of headline inflation. The 1-month increase of 0.9% suggests continued upward momentum. Non-food inflation (all items excluding food & non-alcoholic beverages) rose sharply to 3.3% from 2.1% in March, reflecting the pass-through of fuel costs into the broader economy.
The Core Index — which excludes volatile unprocessed food, energy, and utilities (with the exception of maize flour) — rose to 3.1% in April 2026, up markedly from 2.2% in March 2026. Covering 297 items representing 73.9% of the total NCPI weight, core inflation is widely regarded as a better indicator of underlying structural price trends.
The acceleration in core inflation is particularly significant from a policy standpoint: it signals that inflationary pressure is no longer confined to volatile categories like food and fuel, but is becoming more entrenched across the broader economy. This is the metric the Bank of Tanzania watches most closely.
Chart 4: Core vs Non-Core vs Headline Inflation — April 2026
12-month percentage change | 2020 = 100
Source: NBS Tanzania, May 2026
🏦
Monetary policy signal: With core inflation rising from 2.2% to 3.1% in one month, the Bank of Tanzania may face growing pressure to tighten monetary conditions. Investors and businesses should monitor the next Monetary Policy Committee statement for guidance on the interest rate outlook.
Section 6
Monthly Change: March to April 2026
The overall NCPI increased by 1.3% between March and April 2026 (from 123.04 to 124.61). This monthly jump — larger than any single-month movement in the preceding 12 months — is primarily attributable to the dramatic fuel price increases. The non-food sectors most affected are listed below.
Chart 5: Key Non-Food Price Increases — March to April 2026 (Monthly % Change)
Tanzania CPI March 2026: Inflation Holds at 3.2% | TICGL Economic Intelligence
TICGL Economic Intelligence · Official NBS Data
Tanzania Inflation Holds Steady at 3.2% in March 2026
📅 Published: 8 April 2026📊 Source: National Bureau of Statistics (NBS), Tanzania🗂️ Reference: NCPI (2020 = 100)
Headline Inflation
3.2%
Year-on-year, March 2026
Unchanged vs Feb 2026
Food Inflation
5.5%
Food & Non-Alcoholic Beverages
↓ from 5.7% in Feb 2026
Core Inflation
2.2%
Excludes volatile items
↑ from 2.1% in Feb 2026
Overall NCPI
123.04
Index value (2020 = 100)
↑ from 119.27 (Mar 2025)
Monthly Change
+0.8%
Feb 2026 → Mar 2026
↑ from 122.01
Section 1
About the National Consumer Price Index (NCPI)
The NCPI is Tanzania's official measure of consumer price changes, compiled by the National Bureau of Statistics (NBS) and released monthly.
🛒 Basket Composition
383 goods and services in total — comprising 132 food and non-alcoholic beverage items and 251 non-food items. Prices are collected from all 26 regional headquarters on the Tanzanian mainland.
⚖️ Weights & Reference Period
Weights are derived from the 2017/18 Household Budget Survey, covering both urban and rural households across all 26 mainland regions. The base price reference period is January–December 2020 (index = 100).
🗂️ Classification
The NCPI follows the UN COICOP 2018 framework, disseminated across 13 divisions. Supplementary indices include: Core, Non-Core, Energy/Fuel/Utilities, Services, Goods, Education, and All Items Less Food.
📐 Compilation Method
Elementary aggregates use the geometric mean of price relatives. Higher-level aggregates use the Lowe Index formula (a type of Laspeyres index), providing a consistent and internationally comparable measure.
Section 2
Annual Headline Inflation: March 2026 at 3.2%
The headline rate remained unchanged from February 2026, indicating stable overall price conditions. The overall NCPI climbed from 119.27 in March 2025 to 123.04 in March 2026.
Key Finding: Tanzania's headline inflation rate has remained remarkably stable, fluctuating within a narrow band of 3.2% to 3.6% over the 12 months from March 2025 to March 2026. This stability reflects disciplined monetary conditions even as food prices remain elevated.
NCPI Index Value & Annual Inflation Rate — Mar 2025 to Mar 2026
12-Month Inflation by Category (%)
Annual percentage change, March 2026 vs March 2025
Monthly Change by Category (%)
February 2026 to March 2026
Section 3
NCPI by Division — Full Table (2020 = 100)
Detailed index values and inflation rates for all 13 COICOP divisions and supplementary indices as of March 2026.
#
Division / Category
Weight (%)
Mar 2025
Feb 2026
Mar 2026
1-Month %
12-Month %
Weight Share
Source: National Bureau of Statistics (NBS), Tanzania — NCPI Press Release, 8 April 2026.
Section 4
Supplementary Price Indices
The NBS also publishes several supplementary aggregations that provide deeper insight into price dynamics across different segments of the economy.
Core vs Non-Core Inflation
12-month rate, March 2026
Goods vs Services Inflation
12-month rate, March 2026
Supplementary Indices — Full Detail
Index
Weight (%)
Mar 2025
Feb 2026
Mar 2026
1-Month %
12-Month %
Core Inflation (2.2%) excludes unprocessed food, energy, and utilities (except maize flour) — covering 297 items representing 73.9% of the basket. Its slight uptick from 2.1% in February signals modest underlying price pressure. Meanwhile, Non-Core Inflation (5.6%) — driven largely by food and energy — continues to be the dominant force behind overall price increases.
Section 5
Monthly Price Drivers: Feb → Mar 2026
The NCPI rose from 122.01 to 123.04 (+0.84%) between February and March 2026. The increase was driven by both food and non-food items.
🌾 Food Items — Price Increases
🏠 Non-Food Items — Price Increases
Top Food Price Movers — Monthly Change (%)
Section 6
Upcoming NCPI Release Schedule
The NBS publishes monthly CPI data. Analysts and investors can plan around the following confirmed release dates.
April 2026
8 May 2026
Scheduled release date for April 2026 NCPI data
May 2026
8 June 2026
Scheduled release date for May 2026 NCPI data
June 2026
8 July 2026
Scheduled release date for June 2026 NCPI data
Related TICGL Economic Resources
Explore more research, data, and analysis on Tanzania's economy from TICGL.
A closer look at each of the 13 COICOP divisions — how each category has moved over the past month and year, with weight significance and trend signals.
High Inflation (>3.5%)Moderate Inflation (1.5–3.5%)Low Inflation (<1.5%)
Section 8
Inflation Trend Analysis — 13-Month Review
Breaking down the evolution of Tanzania's price environment from March 2025 to March 2026 across the three key inflation measures: Headline, Core, and Food.
Headline vs Core vs Food Inflation — Monthly Trend (%)
Inflation Rate Distribution
How frequently each inflation band occurred (Mar 2025–Mar 2026)
Monthly Index Movement
Month-on-month NCPI change (absolute points)
Phase 1 — Stability (Mar–Oct 2025): The NCPI hovered between 119.27 and 120.18 for 8 consecutive months — an unusually tight range reflecting subdued demand-side pressures, stable exchange rates, and contained import costs. Headline inflation drifted between 3.2% and 3.5%.
Phase 2 — Acceleration (Nov 2025–Mar 2026): The index shifted upward from 120.01 to 123.04 — a gain of 3.03 index points in just 5 months. Food and energy prices, particularly cassava, potatoes, diesel, and charcoal, became the dominant drivers of this acceleration.
Energy prices exerted significant upward pressure in March 2026, with several fuel types posting sharp monthly gains. This matters greatly for transport costs, manufacturing, and household welfare.
Energy & Fuel Index: +2.1% Monthly | +2.1% Annually
The Energy, Fuel and Utilities Index rose sharply from 131.61 in February to 134.36 in March 2026 — a monthly jump of 2.1 points. On an annual basis, it also recorded 2.1% growth from 131.58 in March 2025.
Energy Index Mar 2026
134.36
Base 2020 = 100
Monthly Change
+2.1%
Feb → Mar 2026
Annual Change
+2.1%
Mar 2025 → Mar 2026
Index Weight
5.7%
Share of total NCPI
Monthly Price Change — Key Energy & Fuel Items
Percentage change, February to March 2026
Energy Index Trend — Mar 2025 to Mar 2026
Index value (2020 = 100), estimated monthly path
Diesel (+4.7%) and charcoal (+4.1%) were the largest energy price movers in March 2026. Diesel prices directly affect freight costs, public transport fares, and agricultural input delivery — meaning the impact radiates across virtually all sectors. Charcoal's increase hits lower-income urban households hardest, as it remains the dominant cooking fuel for millions of Tanzanians.
Section 10
Food & Nutrition Security — Price Signals
At 5.5% annual inflation, food prices remain the primary driver of household cost-of-living pressure in Tanzania. Here we examine which staples are under pressure and what this means for food security.
Staple Food Price Changes — Monthly (%)
Core staple grains and roots, Feb → Mar 2026
Protein Sources — Monthly Price Change (%)
Meat, fish, dairy, and legumes, Feb → Mar 2026
Food Inflation by Sub-Category — Severity Matrix
Food Sub-Category
Key Items Rising
Monthly Change Range
Severity
Household Impact
Roots & Tubers
Fresh cassava, Irish potatoes, sweet potatoes
+4.5% to +8.2%
🔴 High
Critical — key calorie sources for rural & urban poor
Fish & Seafood
Dried sardines, fresh fish
+2.4% to +4.3%
🟠 Elevated
High — protein affordability under pressure
Fresh Produce
Fruits, vegetables
+3.8%
🟠 Elevated
Moderate-high — seasonal variability expected
Cereals & Grains
Rice, sorghum, maize, finger millet
+1.3% to +2.6%
🟡 Moderate
Moderate — basis of most Tanzanian meals
Flours & Processed Grains
Cassava flour, sorghum flour, maize flour
+1.0% to +2.5%
🟡 Moderate
Moderate — processed forms lag raw grain prices
Legumes
Dried beans, lentils, peas
+0.3% to +1.9%
🟢 Low-Moderate
Low — important affordable protein alternative
Bread & Bakery
Bread, bakery products
+1.3%
🟢 Low-Moderate
Low — urban consumption staple
Dairy
Raw milk of cattle
+0.6%
🟢 Low
Low — relatively stable price environment
Section 11
Investment & Business Implications
What does Tanzania's March 2026 inflation data mean for businesses, investors, and policy analysts? TICGL breaks down the key signals by sector.
✅ Stable Signal
🏦
Monetary & Macro Stability
Headline inflation at 3.2% — unchanged for two consecutive months — signals that the Bank of Tanzania's monetary stance is broadly effective. The narrow 3.2%–3.6% range over 13 months indicates a well-anchored inflation environment, reducing the probability of emergency rate hikes and providing a stable backdrop for long-term investment planning.
⚠️ Monitor Closely
🌾
Agri-Food Sector
Food inflation at 5.5% and rising prices for cassava (+8.2%), potatoes (+5.1%), and sardines (+4.3%) point to supply-side constraints. Investors in food processing, cold chain logistics, and agricultural inputs should expect continued cost pressure on raw materials. Margins may narrow unless hedging strategies or local sourcing arrangements are in place.
⚠️ Risk Flag
⛽
Transport & Logistics
Transport inflation stands at 4.2% year-on-year with diesel surging +4.7% in March alone. Companies relying on road freight, last-mile delivery, or fuel-intensive operations face direct margin compression. Fuel cost clauses in contracts and fuel efficiency investments become more critical in this environment.
💡 Opportunity
🏘️
Real Estate & Housing
Housing, water, electricity and gas inflation at just 1.6% annually is among the lowest of all categories. Combined with core inflation at 2.2%, this suggests the real cost of property holding remains relatively stable — creating a potentially favourable window for real estate acquisition and development finance.
👁️ Watch
📡
ICT & Digital Economy
Information and communication recorded just 1.0% annual inflation and 0.0% monthly change — the most price-stable sector in the entire NCPI basket. This reflects competitive telecoms markets and declining hardware costs. For digital-first businesses operating in Tanzania, input cost inflation is minimal.
💡 Opportunity
🍽️
Food Service & Hospitality
Restaurants and accommodation services posted 2.1% annual inflation and a modest +0.4% monthly rise. While food input costs are rising, the relatively contained service-side inflation suggests businesses have not yet passed through full cost increases to consumers — creating a potential price adjustment window for operators.
✅ Positive
💳
Financial Services
Insurance and financial services posted just 0.3% annual inflation — the lowest of any NCPI division. This ultra-stable pricing environment, combined with moderate headline inflation, suggests real returns on financial instruments remain positive and the sector is not under inflationary distortion.
👁️ Watch
👗
Retail & Consumer Goods
Clothing and footwear at 1.3% annual inflation, furnishings at 2.3%, and personal care at 3.3% — the goods sector overall at 3.6% — indicate moderate retail price pressure. Importers face currency and freight pass-through risks, while domestic producers benefit from the relatively stable core goods environment.
📊 Tanzania Inflation Sector Scorecard — March 2026
🏆 Most Price-Stable SectorInformation & Communication — 1.0% (annual)
⚡ Sharpest Monthly MoverNon-Core Index — +2.3% (Feb→Mar)
🔒 Most Stable MonthlyInformation & Communication — 0.0%
⚖️ Core Inflation Trend2.2% — Slightly Rising (+0.1pp vs Feb)
🧮 Goods vs Services GapGoods 3.6% vs Services 2.4% — 1.2pp spread
🌍 Headline Inflation Verdict3.2% — Stable, Low by Regional Standards
TICGL Assessment: Tanzania's March 2026 inflation profile reflects a broadly manageable price environment with localised stress in food and energy. The 13-month stability of headline inflation between 3.2%–3.6% is a positive signal for the investment climate. However, the sustained 5.5% food inflation and sharp monthly moves in cassava (+8.2%), diesel (+4.7%), and charcoal (+4.1%) warrant monitoring — particularly for businesses and households most exposed to these categories. Core inflation ticking up to 2.2% from 2.1% deserves attention in coming months.
Section 12
Frequently Asked Questions — Tanzania CPI March 2026
Key questions from analysts, investors, and policy researchers about Tanzania's inflation data.
What does 3.2% headline inflation mean for Tanzania in regional context?
+
Tanzania's 3.2% headline inflation rate is considered moderate and relatively low by Sub-Saharan African standards. Many regional peers — including Kenya, Uganda, Zambia, and Zimbabwe — have experienced significantly higher inflation in recent years driven by currency depreciation, fuel cost pass-through, and post-COVID supply disruptions. Tanzania's relatively contained inflation reflects a combination of managed exchange rate policy, subdued domestic demand growth, and the structure of the NCPI basket, which assigns a relatively modest weight (28.2%) to food compared to some other African CPI baskets. For foreign investors, 3.2% headline inflation — held stable for two consecutive months — is a positive signal for the predictability of the operating environment.
Why is food inflation so much higher than the headline rate?
+
Food and non-alcoholic beverages inflation at 5.5% is 2.3 percentage points above the headline rate of 3.2%. This divergence reflects several forces: (1) Seasonal supply disruptions affecting roots and tubers such as cassava (+8.2%) and Irish potatoes (+5.1%); (2) Climate-related variability affecting both yield and transport costs for perishables like fruits and vegetables (+3.8%); (3) Higher fuel costs (diesel +4.7%) increasing the cost of transporting food from production areas to urban markets; (4) Fish supply constraints leading to dried sardines rising 4.3% in a single month. Because food represents a larger share of spending for lower-income households than the NCPI weight of 28.2% suggests, the effective experienced inflation for many Tanzanian households — particularly the poor — is likely closer to the food inflation rate than the headline figure.
What is the difference between Core and Non-Core inflation?
+
Core inflation (2.2%) excludes items with volatile prices — specifically unprocessed food, energy, and utilities (with the exception of maize flour). It covers 297 items representing 73.9% of the total NCPI weight. Core inflation is the measure that central banks and policymakers typically focus on because it strips out temporary supply-side shocks and provides a clearer picture of underlying demand-driven price trends. Non-Core inflation (5.6%) includes precisely those volatile categories — food and energy — and therefore tends to move more sharply from month to month. The 3.4 percentage point gap between Non-Core (5.6%) and Core (2.2%) in March 2026 tells us that virtually all of Tanzania's inflation pressure is coming from supply-side food and energy shocks rather than from broad-based demand overheating. This is an important distinction for monetary policy: demand-driven inflation requires interest rate increases to cool; supply-side inflation is better addressed through supply chain, agricultural, and energy policy interventions.
How should businesses adjust their pricing strategies given these inflation figures?
+
Businesses should differentiate their response based on their sector's inflation exposure. (1) Food sector businesses face genuine raw material cost increases and should review their hedging and local sourcing arrangements — delay in adjusting sale prices may compress margins significantly, particularly with cassava, potato, and fish inputs. (2) Transport-dependent businesses must account for the 4.7% monthly diesel increase in their cost models immediately. (3) Businesses in the ICT, financial services, and recreation sectors are in a benign environment with low inflation exposure — competitive pricing strategies can be maintained without significant cost pressure. (4) General consumer-facing businesses should note that real purchasing power for Tanzanian households is being eroded by food prices — this may affect discretionary spending. Overall, businesses with supply chains most exposed to food staples and fuel should act swiftly, while those in stable-inflation sectors have more flexibility.
When will the next Tanzania CPI data be released?
+
The National Bureau of Statistics (NBS) of Tanzania releases NCPI data monthly on the 8th of the following month (or the nearest working day). The confirmed upcoming release schedule is: April 2026 data on 8 May 2026; May 2026 data on 8 June 2026; June 2026 data on 8 July 2026. Data is published on the NBS website at www.nbs.go.tz and TICGL provides in-depth analysis of each release on its economic intelligence platform at ticgl.com. Sign up to the TICGL Researcher Program to receive alerts when new releases are analysed.
What is the NCPI base year and why does it matter?
+
The NCPI uses 2020 as its reference year (index = 100). This means that the March 2026 index value of 123.04 indicates that the cost of the representative basket of goods and services has increased by approximately 23% since the average price level of 2020. The choice of base year matters because it anchors all comparisons. The weights used in the NCPI are derived from the 2017/18 Household Budget Survey — this is worth noting because consumer spending patterns may have shifted since then. A rebasing exercise (updating both the weights and the reference year) would provide a more accurate reflection of current Tanzanian household consumption patterns. The NBS is aware of this and periodically conducts such exercises. Users of the NCPI should bear in mind that the basket composition and weights reflect a 2017/18 consumption pattern, which may underweight certain modern expenditure categories such as mobile data, digital services, or changed food preferences.
Inflation Trend in Tanzania March 2026 | TICGL Economic Analysis
🇹🇿 TICGL – Tanzania Investment and Consultant Group Ltd | Economic Research Unitticgl.com ↗
TICGL Economic Analysis · March 2026
Inflation Trend in Tanzania March 2026 — Full Report
A detailed breakdown of Tanzania's inflation dynamics, Consumer Price Index movements, exchange rate stability, and monetary policy settings — covering January 2025 through March 2026.
📅 Published: March 16, 2026📊 Source: Bank of Tanzania & NBS🏦 TICGL Research Unit🕐 ~10 min read
3.2%
Headline Inflation
▼ Feb 2026
2.1%
Core Inflation
▼ from 2.7% (Jan 2025)
5.7%
Food Inflation
▲ Highest category
122.01
CPI Index (Feb 2026)
▲ from 118.28 (Feb 2025)
2,555
TZS/USD (Mar 2026)
▲ Mild depreciation
5.75%
Central Bank Rate
– Stable (BoT)
Executive Summary
Tanzania's macroeconomic environment in early 2026 reflects controlled price growth and relative currency stability.
Headline inflation eased to 3.2% in February 2026 — the lowest since July 2025 — comfortably within the Bank of Tanzania's (BoT) 3–5% policy target.
The Consumer Price Index (CPI) climbed modestly from 118.28 (February 2025) to 122.01 (February 2026), indicating manageable cost-of-living pressures.
The Tanzania Shilling depreciated by only ~0.97–1.75% annually, supported by USD 6.3 billion in foreign reserves and robust export earnings.
Food inflation, however, remains the key pressure point at 5.7%, requiring continued vigilance.
The BoT's Central Bank Rate (CBR) is held at 5.75%, anchoring banking liquidity and investment conditions.
Section 01
Headline Inflation Trend (2025–2026)
Inflation measures the increase in prices of goods and services, directly affecting the purchasing power of the Tanzania Shilling (TZS).
Tanzania's headline inflation exhibited a modest oscillation throughout 2025 before declining to a relative low by February 2026.
The country sustained inflation within the national target range of 3–5% for the entire period reviewed. The decline from 3.6% in December 2025 to 3.3% in January 2026 signalled improved price stability, with further easing to 3.2% in February 2026. This trajectory reflects the effectiveness of BoT's monetary tools and moderating food price pressures.
Headline Inflation Rate — Monthly Trend (%)
Tanzania, January 2025 – February 2026 | Source: NBS / Bank of Tanzania
Table 1.1 — Headline Inflation Rate (%), Tanzania 2025–2026
Period
Inflation Rate (%)
Monthly Change
Policy Status
Notes
January 2025
3.1%
—
Within Target
Stable start to the year
December 2025
3.6%
▲ +0.5pp
Within Target
Peak — seasonal food price surge
January 2026
3.3%
▼ –0.3pp
Within Target
Decline following Dec peak
February 2026 ★
3.2%
▼ –0.1pp
Within Target
Lowest since July 2025
✅
Policy Target Met
Inflation stayed within the BoT's 3–5% target throughout the entire reviewed period, demonstrating effective monetary governance.
📉
Downward Trajectory
Inflation declined from the December 2025 peak of 3.6% to 3.2% in February 2026 — a positive signal for purchasing power protection.
⚠️
Seasonal Risks
The December 2025 spike to 3.6% highlights exposure to seasonal food price surges, requiring proactive supply-side management.
Section 02
Consumer Price Index (CPI) Trend
The Consumer Price Index (CPI) measures the cost of a standardised basket of goods and services purchased by Tanzanian households. With a base year of 2020 = 100, the CPI provides a consistent benchmark for tracking cost-of-living changes over time.
Tanzania's national CPI increased from 118.28 in February 2025 to 122.01 in February 2026 — a 3.15-point (2.7%) increase over 12 months. This moderate growth reflects a relatively stable price environment in the economy, consistent with the low single-digit inflation rates observed during this period.
National CPI Index (Base 2020 = 100)
Feb 2025 – Feb 2026 | NBS Tanzania
CPI Growth vs. Headline Inflation
Overlay comparison | 2025–2026
Table 2.1 — National Consumer Price Index (Base 2020 = 100), Tanzania
Period
CPI Index
Year-on-Year Change
Interpretation
February 2025
118.28
—
Baseline for comparison
January 2026
121.41
▲ +3.13 pts
Moderate cost-of-living increase
February 2026 ★
122.01
▲ +3.73 pts (+3.15%)
Stable growth, purchasing power preserved
✅
Stable CPI Growth Supports the Tanzania Shilling
The narrow, predictable movement of Tanzania's CPI (only +3.15% over 12 months) indicates controlled purchasing power erosion, reinforcing confidence in the Tanzania Shilling's domestic value.
Section 03
Composition of Inflation — January 2026
Inflation is not a monolithic measure — it is shaped by price changes across multiple household spending categories. Understanding the sectoral composition of inflation allows policymakers, investors, and households to identify which sectors are driving cost pressures and which remain contained.
In January 2026, food and non-alcoholic beverages exerted the largest inflationary force at 5.7%, reflecting the dominant share of food in household expenditure for most Tanzanian families. Transport came in second at 4.2%, influenced by fuel costs and logistics. Clothing, health, and restaurant categories remained well-contained below 2%.
Inflation by Category (January 2026)
Horizontal bar chart | NBS Tanzania
Category Share — Inflation Distribution
Relative contribution | January 2026
Visual Breakdown — Category Inflation Rates vs. 5% Target Line
Food & Non-Alcoholic Beverages
5.7%
Transport
4.2%
Housing, Water, Electricity & Gas
2.3%
Clothing & Footwear
1.2%
Health
1.1%
Restaurants & Accommodation
1.1%
Table 3.1 — Inflation by Major Category (%), Tanzania — January 2026
Category
Inflation Rate (%)
Status
Key Driver
Food & Non-Alcoholic Beverages
5.7%
Above Target
Seasonal supply constraints, staple food prices
Transport
4.2%
Elevated
Fuel costs, logistics chain pressures
Housing, Water, Electricity & Gas
2.3%
Moderate
Utility tariffs, urban housing demand
Clothing & Footwear
1.2%
Contained
Import prices, domestic textile production
Health
1.1%
Contained
Pharmaceutical costs, medical services
Restaurants & Accommodation
1.1%
Contained
Service sector competition, food input costs
⚠️
Food Inflation Remains the Primary Pressure Point
At 5.7%, food inflation exceeds the BoT's 5% ceiling for sub-components and disproportionately affects lower-income households in Tanzania, where food spending constitutes 50–60% of total household expenditure.
Section 04
Core Inflation & Energy Inflation
Core inflation strips out volatile food and energy prices to reveal the underlying demand-driven price trend in the economy. It is a critical indicator for central bank policy decisions, as it reflects persistent structural price pressures rather than temporary supply-side shocks.
In January 2026, core inflation fell to 2.2% from 2.7% in January 2025 — a significant 0.5 percentage point decline indicating reduced underlying price pressures and successful demand management. By February 2026, core inflation eased further to approximately 2.1–2.2%.
Conversely, energy and utilities inflation surged to 5.2%, driven primarily by rising prices of charcoal and firewood — key energy sources for the majority of Tanzanian households, particularly in rural areas. This presents a targeted structural challenge that cannot be addressed by monetary policy alone.
Table 4.1 — Key Inflation Indicators Comparison, Tanzania 2025–2026
Indicator
Jan 2025
Dec 2025
Jan 2026
Feb 2026
Trend
Notes
Headline Inflation
3.1%
3.6%
3.3%
3.2%
▼ Declining
Lowest since July 2025
Core Inflation
2.7%
2.5%
2.2%
2.1–2.2%
▼ Declining
Reduced underlying pressures
Food Inflation
—
6.7%
5.7%
5.7%
▲ Elevated
Peaked in Dec 2025
Energy & Utilities Inflation
—
—
5.2%
2.8%
▼ Easing
Charcoal/firewood key drivers
Inflation Decomposition — Headline vs. Core vs. Food vs. Energy (%)
Multi-indicator comparison across key periods | NBS / BoT Tanzania
📉
Core Inflation Under Control
Core inflation declining from 2.7% to 2.2% shows BoT's interest rate discipline is working — fundamental demand pressures are easing.
🔥
Energy Inflation at 5.2%
Charcoal and firewood price increases drive energy inflation — a structural issue tied to deforestation pressures and limited clean energy access in rural Tanzania.
🌾
Food Price Persistence
Food inflation remains elevated at 5.7% despite easing from 6.7% in December 2025, requiring agricultural supply chain interventions beyond monetary tools.
🎯
Policy Divergence Challenge
The gap between low core inflation (2.2%) and high food/energy inflation (5–6%) presents a targeting challenge: a single interest rate cannot address supply-side sectoral shocks.
Section 05
Tanzania Shilling Exchange Rate Stability
The exchange rate of the Tanzania Shilling (TZS) against major currencies — particularly the US Dollar (USD) — is a critical macroeconomic variable that influences import costs, external debt servicing, investor sentiment, and inflationary dynamics (through imported inflation).
Data shows the TZS experienced a mild and manageable depreciation trajectory from December 2025 through March 2026. The average rate moved from TZS 2,452.76 per USD in December 2025 to approximately TZS 2,554.67 per USD in March 2026 (up to March 14). On an annual basis, depreciation stands at only 0.97–1.75%, reflecting considerable relative stability given global economic pressures.
This stability is underpinned by Tanzania's USD 6.3 billion in foreign exchange reserves, consistent export earnings from gold and agriculture, and the BoT's active market interventions.
TZS/USD Exchange Rate — Monthly Average Trend
December 2025 – March 2026 | Source: Bank of Tanzania
Table 5.1 — TZS/USD Exchange Rate Trend, December 2025 – March 2026
Period
Avg Rate (TZS/USD)
Monthly Change (%)
Annual Depreciation
Notes
December 2025
2,452.76
—
—
End-year low; strong close
January 2026
2,477.94
+1.0%
0.97%
Seasonal FX demand pressures
February 2026 (avg)
2,581.04
+4.2%
—
Slight upward pressure
March 2026 (up to 14th) ★
2,554.67 (avg) High: 2,609.85 on 13th
–0.09% (monthly)
0.95–1.75%
Stable amid global pressures; reserves buffer absorbing shock
🛡️
Reserve Buffer: USD 6.3 Billion
Tanzania's substantial foreign exchange reserves provide strong insulation against external shocks and seasonal FX demand pressures.
📊
Annual Depreciation: ~1%
At only 0.97–1.75% annual depreciation, the TZS demonstrates remarkable stability relative to many peer African currencies facing 5–15% annual depreciation.
📈
February Spike Watch
The 4.2% monthly move in February 2026 warrants monitoring. Sustained TZS weakness could increase import costs and add to domestic inflation pressures.
ℹ️
Low Inflation Supports Exchange Rate Stability
Tanzania's controlled inflation (3.2%) reduces currency erosion risk. Countries with lower inflation relative to trading partners generally see their currencies appreciate or hold value more effectively — a virtuous cycle the BoT is actively cultivating.
📚 TICGL Economic Research — Related Resources
Explore more in-depth economic intelligence from the TICGL Research Unit
📋 Data Sources: Bank of Tanzania (BoT), National Bureau of Statistics Tanzania (NBS), TICGL Research Unit. |
📅 Period Covered: January 2025 – March 14, 2026. |
⚠️ Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. TICGL — Tanzania Investment and Consultant Group Ltd.
Section 06
Monetary Policy & Inflation Control
The Bank of Tanzania (BoT) is the primary institution responsible for managing inflation and preserving currency stability through its monetary policy framework. The BoT deploys a combination of interest rate tools, open market operations, and liquidity management instruments to keep inflation within the national target range of 3–5%.
In early 2026, the BoT maintained its Central Bank Rate (CBR) at 5.75% — a deliberate decision to balance inflation control against the need to sustain credit growth and economic activity. The interbank market rate settled at approximately 6.40%, reflecting efficient monetary transmission within Tanzania's banking system.
Notably, the BoT injected TZS 976.4 billion in reverse repo liquidity support to ensure adequate banking sector liquidity. This action prevented a credit squeeze while keeping the shilling and inflation trajectory anchored within policy bounds — a calibrated dual mandate operation.
Table 6.1 — Key Monetary Policy Indicators, Bank of Tanzania — Early 2026
Indicator
Value
Function
Impact on Economy
Status
Central Bank Rate (CBR)
5.75%
Signals monetary policy stance; benchmark for all lending rates
Reflects real-time liquidity conditions in the banking system
Near Target
Reverse Repo Liquidity Support
TZS 976.4 Billion
BoT injects liquidity into the banking system via reverse repurchase agreements
Prevents credit contraction; supports SME and private sector lending
Active
Government Securities — 10-Year Bond Yield
~11.30%
Reflects long-term borrowing cost for government; benchmark for private credit
Low yields attract domestic investors; fund infrastructure without inflating money supply
Moderately Elevated
Credit Growth (Private Sector)
16–20% (target)
Rate of new credit extended to businesses and households
Enables SME expansion, investment; risks inflation if excessive
On Track
Monetary Policy Rates Comparison — Tanzania Early 2026
CBR vs. Interbank Rate vs. 10-Year Bond Yield vs. Headline Inflation | Bank of Tanzania
Liquidity Injection Impact — Reverse Repo Support (TZS Billion)
BoT reverse repo operations and their role in maintaining banking sector stability
🏦
CBR Steady at 5.75%
The BoT's decision to hold the CBR at 5.75% signals confidence in Tanzania's inflation trajectory while supporting continued economic activity and private sector credit growth.
💧
TZS 976.4 Bn Liquidity Injection
Reverse repo support of nearly TZS 1 trillion ensures commercial banks maintain sufficient lending capacity, preventing the kind of credit squeeze that could stall economic momentum.
📐
Transmission Gap: CBR to Interbank
The ~0.65pp spread between the CBR (5.75%) and the interbank rate (6.40%) indicates normal monetary transmission — though persistent gaps can signal liquidity stress.
🎯
Dual Mandate Balance
The BoT is simultaneously managing price stability (3.2% inflation) and financial stability (credit growth 16–20%) — a complex balancing act underpinned by adequate reserve buffers.
ℹ️
Securities Market Connection
Low inflation and the stable CBR environment have enabled Tanzania's government bond auctions to be oversubscribed by up to 34%, with bids reaching TZS 840 billion in January 2026 — reflecting strong domestic investor confidence and providing low-cost financing for national infrastructure development.
Section 07
Relationship Between Shilling Stability & Inflation
The relationship between inflation and currency value is one of the most fundamental dynamics in macroeconomics. For Tanzania, understanding this interplay is essential for investors, importers, exporters, and policymakers — as movements in either variable directly affect the other through multiple transmission channels.
When domestic inflation remains low and stable, the Tanzania Shilling retains its domestic purchasing power, reduces imported inflation risk, and supports investor confidence in TZS-denominated assets. Conversely, persistent inflation — particularly in food and energy — erodes household purchasing power, puts downward pressure on the shilling, and can create a self-reinforcing depreciation cycle if unchecked.
Since Tanzania's inflation remains around 3–4%, the Shilling has maintained moderate stability despite significant global economic pressures — including elevated global commodity prices, USD strength, and supply chain disruptions that have severely destabilised currencies in peer African economies.
Table 7.1 — Inflation–Currency Transmission Matrix, Tanzania
Economic Factor
Mechanism
Impact on TZS
Current Status (2026)
Low Headline Inflation (3.2%)
Preserves real interest rate differential; attracts portfolio investment
✅ Supports Stability
Active — inflation within BoT target
High Food Inflation (5.7%)
Increases import food demand; strains FX reserves; reduces rural purchasing power
⚠️ Depreciation Risk
Persistent pressure — supply-side challenge
Stable Exchange Rate (~0.97% annual depreciation)
Limits pass-through of import prices into domestic CPI; controls imported inflation
✅ Inflation Anchor
Active — rate stable, reserves buffer strong
Energy Inflation (5.2%)
Raises production costs; increases demand for USD to fund fuel imports
⚠️ Modest Pressure
Easing — fell to 2.8% in Feb 2026
USD 6.3 Bn FX Reserves
BoT can intervene to smooth excessive TZS volatility; signals creditworthiness
✅ Strong Buffer
Robust — covers 4–5 months of imports
CBR at 5.75%
Keeps real rates positive relative to inflation; reduces speculative TZS selling
✅ Supports Shilling
Stable — no change expected near-term
Inflation Rate vs. TZS/USD Exchange Rate — Parallel Trend
Raises input costs; increases USD demand for fuel imports
→ Mild TZS Pressure
Section 08
Key Indicators of Shilling Stability vs. Inflation (2026)
This section consolidates all major macroeconomic indicators into a unified dashboard view, enabling investors, researchers, and policymakers to assess Tanzania's economic health at a glance. Together, these metrics paint a picture of an economy that is maintaining macroeconomic discipline while navigating residual pressures from food prices, energy costs, and a gradually depreciating currency.
The interconnection between these indicators is critical: the CBR anchors inflation expectations, stable inflation supports bond auction oversubscription, low yields fund infrastructure without fiscal pressure, and robust GDP growth sustains export capacity — reinforcing Shilling stability in a virtuous cycle that BoT is actively cultivating.
Table 8.1 — Comprehensive Macroeconomic Dashboard, Tanzania — 2026
Indicator
Value
Period
Benchmark / Target
Assessment
Headline Inflation
3.2%
Feb 2026
BoT Target: 3–5%
✅ Within Target
Core Inflation
2.1–2.2%
Feb 2026
Below Headline (healthy)
✅ Declining
Food Inflation
5.7%
Jan–Feb 2026
Below 5% (goal)
⚠️ Elevated
Energy & Utilities Inflation
2.8% (Feb) / 5.2% (Jan)
Feb 2026
Below 5% (goal)
⚡ Easing
CPI Index (Base 2020=100)
122.01
Feb 2026
Moderate growth pace
✅ Stable Growth
TZS/USD Exchange Rate (avg)
~TZS 2,554.67
Mar 2026 (to 14th)
Low annual depreciation
✅ Relatively Stable
Annual TZS Depreciation
0.97–1.75%
2025–2026
<5% (peer benchmark)
✅ Well Contained
Central Bank Rate (CBR)
5.75%
Early 2026
Aligned with inflation target
✅ Appropriate
Interbank Market Rate
~6.40%
Early 2026
Near CBR (efficient transmission)
✅ Normal
FX Reserves
USD 6.3 Billion
2026
>3 months import cover
✅ Adequate Buffer
10-Year Government Bond Yield
~11.30%
Jan 2026
Below 12% (stable)
📊 Moderate
GDP Growth Forecast
6.0–6.3%
2026
SSA average: ~4%
✅ Above Regional Average
Agriculture Sector Growth
+10%
2025–2026
Key inflation moderator
✅ Strong
FDI Target
USD 15 Billion
2026
Stability-driven
📈 Under pursuit
Macroeconomic Health Radar — Tanzania 2026
Composite stability index across 6 dimensions | Score: 0 (poor) → 10 (excellent)
3.2%
Headline Inflation
✅ Within 3–5% Target
2.1%
Core Inflation
✅ Below Headline
5.7%
Food Inflation
⚠️ Key Risk Factor
122.01
CPI Index
📊 Moderate Growth
2,478
TZS/USD Rate
🔒 Stable Trajectory
5.75%
Central Bank Rate
🏦 Steady BoT Stance
Section 09
Economic Implications for Growth & Development
Tanzania's inflation and currency dynamics in early 2026 have far-reaching implications that extend well beyond price levels. The interplay between low inflation, a relatively stable Shilling, government securities market performance, and long-term development goals creates a complex web of opportunity and risk that investors, policymakers, and development practitioners must carefully navigate.
Low inflation preserves household purchasing power and stimulates consumer spending — a key engine for Tanzania's 6.0–6.3% GDP growth forecast in 2026. Shilling stability reduces FX risk for foreign direct investors, helping Tanzania pursue its USD 15 billion FDI target. Meanwhile, oversubscribed government bond auctions (e.g., 34% oversubscription in January 2026 with TZS 840 billion in bids) provide the government with low-cost domestic financing for Vision 2050 infrastructure priorities — including hydropower projects expected to contribute 1–1.5% to GDP growth.
However, if food inflation (5.7%) and energy pressures remain unchecked, the risks of purchasing power erosion among lower-income households, increased external borrowing costs, and crowding out of private investment could slow the pace of inclusive growth needed to achieve Tanzania's poverty reduction targets (below 20% by 2030).
The interplay of stable prices, a managed Shilling, and active BoT policy fosters a resilient medium-term growth trajectory of 6.5–6.9%. Vigilant policy — particularly BoT's liquidity management tools — will be key to sustaining securities market appeal and preserving Shilling stability as global conditions evolve in 2026.
Conclusion
Summary & Outlook
🎯 Key Findings — Tanzania Inflation Trend, March 2026
Headline inflation eased to 3.2% in February 2026 — the lowest level since July 2025 — remaining firmly within the Bank of Tanzania's 3–5% policy target, reflecting effective monetary governance and moderating price pressures.
Core inflation declined from 2.7% (January 2025) to 2.1–2.2% (February 2026), indicating reduced underlying demand pressures and successful interest rate transmission through the banking system.
The Consumer Price Index (CPI) rose modestly from 118.28 to 122.01 over 12 months — a 3.15% increase that confirms stable, predictable cost-of-living growth rather than disruptive price volatility.
Food inflation (5.7%) remains the single largest inflationary pressure and the primary risk to inclusive growth, disproportionately affecting lower-income households where food spending constitutes the majority of budgets.
The Tanzania Shilling depreciated by only 0.97–1.75% annually against the USD — a testament to Tanzania's strong USD 6.3 billion FX reserve buffer, robust export performance, and credible BoT monetary policy.
The Central Bank Rate (CBR) held at 5.75% with TZS 976.4 billion in reverse repo liquidity support, maintaining an accommodative credit environment that supports the 16–20% private sector credit growth target.
Tanzania's macroeconomic stability is enabling oversubscribed government bond auctions (up to 34% oversubscription), providing low-cost domestic financing for Vision 2050 infrastructure — without fuelling inflation or currency volatility.
The medium-term GDP growth potential of 6.5–6.9% positions Tanzania as one of East Africa's strongest-performing economies, though sustained vigilance on food and energy inflation is required to ensure growth is sufficiently inclusive.
Tanzania Macro Stability Scorecard — Full Indicator Overview
All key metrics plotted against their respective benchmarks | TICGL Research, March 2026
Tanzania demonstrated superior inflation management in 2025, achieving an annual average of 3.3% and outperforming regional peers Kenya (4.1%) and Uganda (3.6%). Despite food inflation surging from 2.1% to 6.4%, the country maintained exceptional stability through declining core inflation (3.4% to 2.2%) and non-food inflation (3.5% to 2.0%).
Key Insight: Tanzania ranked first (lowest inflation) in 8 out of 12 months in 2025 and was never the worst performer in any month. Kenya showed highest volatility, peaking at 4.6% in September-October 2025.
Critical Finding: The divergence between Core (2.5%) and Non-Core (6.7%) inflation indicates that price pressures are concentrated in volatile components rather than broad-based, suggesting effective monetary policy and underlying economic stability.
3. Historical Comparison: 2024 vs 2025 Trends
Category
2024 Average (%)
2025 Average (%)
Change (pp)
Trend
Headline Inflation
3.1
3.3
+0.2
↗️ Slight increase
Food Inflation
2.1
6.4
+4.3
⚠️ Sharp increase
Non-Food Inflation
3.5
2.0
-1.5
✅ Strong decline
Core Inflation
3.4
2.2
-1.2
✅ Significant improvement
Non-Core Inflation
2.2
6.2
+4.0
⚠️ Major increase
Key Finding: The 2025 inflation story is about divergence—volatile food and non-core items surged while core and non-food items improved dramatically. This suggests inflation is not demand-driven but rather supply-side and weather-related.
Bottom Line: Tanzania is well-positioned to maintain low and stable inflation in 2026, continuing to outperform regional peers. The combination of strong core inflation control (2.5%) and accommodative monetary policy supporting 5.5-6% GDP growth creates a favorable environment for investment and economic development. However, vigilance on food security and weather patterns remains essential.
Data Sources: National Bureau of Statistics Tanzania (NBS), Bank of Tanzania (BoT), Trading Economics, International Monetary Fund (IMF), World Bank, Tanzania Investment and Consultant Group Limited (TICGL), Deloitte/Economist Intelligence Unit (EIU)
Next Update: January 2026 NCPI Release - February 9, 2026
Related Economic Analysis & Resources
Explore more insights on Tanzania's economic performance and investment opportunities:
The National Consumer Price Index (NCPI) for August 2025 reveals a stable yet nuanced inflationary landscape in Tanzania, with the annual headline inflation rate rising marginally to 3.4% from 3.3% in July 2025. This slight uptick, driven predominantly by a 7.7% increase in food and non-alcoholic beverage prices, underscores the significant influence of the agricultural sector, which holds a 28.2% weight in the CPI basket. Despite a minor monthly decline in the overall index from 119.85 to 119.77, reflecting seasonal price drops in staples like maize and vegetables, core inflation remained steady at 2.0%, indicating underlying price stability. These figures highlight Tanzania's balanced economic management amid a projected 6% GDP growth, though persistent food price pressures pose challenges for household affordability and rural livelihoods.
Headline Inflation
The annual headline inflation rate (all items in the CPI basket) stood at 3.4% in August 2025, up slightly from 3.3% in July 2025.
This means that on average, prices of goods and services were 3.4% higher in August 2025 compared to August 2024.
The overall index rose from 115.78 in August 2024 to 119.77 in August 2025.
Food and Non-Alcoholic Beverages
Inflation in this category was 7.7% in August 2025, compared to 7.6% in July 2025.
This remains the biggest driver of inflation, since food carries the largest weight (28.2%) in the basket.
Non-Food Items (Excluding Food & Beverages)
Inflation rose slightly to 1.6% in August 2025, up from 1.5% in July 2025.
Core Inflation
Excluding volatile items (unprocessed food, energy, and utilities), core inflation was 2.0% in August 2025, compared to 1.9% in July 2025.
This shows relatively stable underlying price trends.
Selected Groups (Year-on-Year Changes)
Alcoholic beverages & tobacco: 2.9%
Clothing & footwear: 1.7%
Housing, water, electricity, gas & fuels: 2.1%
Transport: 1.4%
Education services: 3.0%
Restaurants & accommodation: 0.9%
Insurance & financial services: 0.6%
Monthly Price Movements (July → August 2025)
The CPI slightly declined from 119.85 in July 2025 to 119.77 in August 2025 (-0.1%), due to lower prices of several items:
Non-food items falling in price: men’s garments (-0.6%), children’s garments (-0.5%), charcoal (-0.7%), firewood (-5.5%), petrol (-0.4%).
Summary: Tanzania’s inflation in August 2025 remained stable and moderate at 3.4%, mainly driven by food prices (7.7% increase). Core inflation (2.0%) shows underlying stability, but seasonal drops in key food and fuel items slightly reduced the monthly index.
Table 1: Tanzania Overall Inflation Rates
Period
CPI Index (2020=100)
Annual Inflation Rate (%)
Monthly Change (%)
August 2024
115.78
3.1
-
September 2024
115.88
3.1
-
October 2024
115.54
3.0
-
November 2024
116.05
3.0
-
December 2024
116.87
3.1
-
January 2025
117.57
3.1
-
February 2025
118.28
3.2
-
March 2025
119.27
3.3
-
April 2025
119.78
3.2
-
May 2025
119.85
3.2
-
June 2025
120.18
3.3
-
July 2025
119.85
3.3
-0.3
August 2025
119.77
3.4
-0.1
Table 2: Core Inflation and Other Key Indices (August 2025)
Index Type
Weight (%)
Index Value (2020=100)
Annual Inflation Rate (%)
Core Index
73.9
115.98
2.0
Non-Core Index
26.1
130.51
7.3
Energy, Fuel and Utilities
5.7
130.72
2.6
Services Index
37.2
112.69
0.8
Goods Index
62.8
123.96
4.9
Education Services
4.1
114.32
2.8
All Items Less Food
71.82
115.56
1.6
Key Highlights:
Headline inflation increased to 3.4% in August 2025 from 3.3% in July 2025
Food inflation rose to 7.7% in August 2025 from 7.6% in July 2025
Core inflation increased to 2.0% in August 2025 from 1.9% in July 2025
Monthly CPI declined by 0.1% from July to August 2025
Food and non-alcoholic beverages have the highest weight (28.2%) in the CPI basket
Overview of Tanzania's Inflation and Economic Implications
Tanzania's headline inflation rate of 3.4% in August 2025 reflects a stable macroeconomic environment, remaining within the Bank of Tanzania's (BOT) target range of 3-5%. This moderate level, up slightly from 3.3% in July, indicates controlled price pressures overall, supported by prudent monetary policies and improved supply conditions in non-food sectors. However, the data highlights persistent challenges, particularly from food price increases, which could strain household budgets and exacerbate inequality. Drawing from the attached National Bureau of Statistics (NBS) document and recent economic analyses, this inflation profile supports robust GDP growth projections while underscoring the need for targeted interventions in agriculture and food security. Below, I break down the key economic implications.
Positive Implications for Economic Stability and Growth
Macroeconomic Resilience and Policy Effectiveness: The low headline inflation rate aligns with BOT's cautious accommodative monetary policy for 2025/26, which aims to balance inflation control with economic expansion. In July 2025, BOT reduced its central bank rate (CBR) by 25 basis points to 5.75%, marking the fifth cut in a series to stimulate lending and investment while keeping inflation anchored. This has contributed to foreign exchange reserves reaching approximately USD 6 billion by June 2025—one of the highest levels in recent years—bolstering the Tanzanian shilling's stability (USD/TZS at around 2,470 in early August 2025). Stable inflation enhances business confidence, attracts foreign direct investment (FDI), and supports Tanzania's goal of drawing USD 15 billion in investments in 2025, focusing on manufacturing, clean energy, transport, and minerals.
Strong GDP Growth Momentum: Tanzania's economy is projected to grow by 6.0% in 2025, up from 5.5-5.6% in 2024, driven by sectors like mining (which led Q1 2025 growth at 5.4%) and services. Low core inflation (2.0% in August, excluding volatile items) signals underlying price stability, reducing risks of overheating and allowing for sustained expansion. The IMF forecasts inflation at 4.0% for the year, complementing this growth outlook. At current prices, GDP is expected to reach USD 88 billion in 2025, positioning Tanzania as one of East Africa's fastest-growing economies.
Benefits for Non-Food Sectors: Inflation in categories like transport (1.4%), housing and utilities (2.1%), and services (0.8%) remains subdued, aided by monthly declines in energy prices (e.g., petrol -0.4%, firewood -5.5%, charcoal -0.7%). This lowers operational costs for businesses, boosts competitiveness in exports (e.g., minerals and agriculture), and supports fiscal health. The energy, fuel, and utilities index rose only 2.6% annually, reflecting easing global commodity pressures. Overall, non-food inflation at 1.6% preserves purchasing power for middle-income groups and encourages consumer spending in durable goods.
Sector
Annual Inflation Rate (Aug 2025)
Economic Implication
Transport
1.4%
Low costs support logistics and trade, enhancing export growth (Tanzania's exports up in mining and tourism).
Housing, Water, Electricity, Gas & Fuels
2.1%
Stable utility prices aid household budgeting and industrial productivity.
Education Services
3.0%
Moderate rise aligns with investments in human capital, crucial for long-term growth.
Services Index (Overall)
0.8%
Low pressure fosters service sector expansion, which employs a growing urban workforce.
Challenges and Risks from Food-Driven Inflation
Impact on Cost of Living and Poverty: Food and non-alcoholic beverages, weighted at 28.2% in the CPI basket, saw inflation rise to 7.7% in August from 7.6% in July, making it the primary inflation driver. This erodes real incomes, particularly for rural and low-income households where food constitutes over 50% of expenditures. Despite a monthly CPI decline of 0.1% due to seasonal drops in items like maize (-1.9%), vegetables (-1.8%), and tubers (e.g., sweet potatoes -3.3%), year-on-year food price hikes could push more people into poverty if not addressed. For context, food inflation surged from 1.4% in March 2024 to 5.4% in March 2025, driven by weather disruptions and supply chain issues. This threatens post-pandemic food security recovery, as global food prices (per FAO index) are 7.6% higher than last year.
Broader Economic Vulnerabilities: High non-core inflation (7.3%, including volatile foods) could amplify external shocks, such as global commodity volatility or climate events affecting agriculture (which anchors 25-30% of GDP). If food prices continue rising, it might fuel wage demands, potentially spiraling into broader inflation. Additionally, the goods index (4.9% inflation) reflects import dependencies, which could worsen with shilling fluctuations.
Inequality and Social Implications: Urban-rural divides may widen, as food inflation hits subsistence farmers hardest. While core stability benefits formal sectors, informal workers (over 80% of employment) face reduced affordability, potentially slowing consumption-led growth.
Policy Responses and Future Outlook
BOT's strategy emphasizes inflation targeting while supporting 6%+ growth, with tools like reserve requirements and open market operations to manage liquidity. Fiscal measures, including subsidies for agriculture and infrastructure investments, could mitigate food risks. The IMF's 2025 Article IV consultation notes improving conditions under prudent management, with growth expected to average 6% long-term. East Africa's regional outlook projects easing inflation (from 20.8% in 2024 to 19.1% in 2025), but Tanzania's lower rate positions it favorably.
In summary, August 2025's inflation data underscores Tanzania's resilient economy, with low overall rates fostering investment and growth amid a projected 6% GDP expansion. However, elevated food inflation poses risks to inclusive development, necessitating enhanced agricultural productivity and social safety nets for sustained stability.
Tanzania’s inflation trends in May 2025 reflect a stable but nuanced economic environment. Headline inflation at 3.2% is well within regional and national targets, supported by declining non-food and core inflation (2.1%). However, rising food inflation (5.6%), driven by supply-demand imbalances and higher staple food prices, is a growing concern. The decline in energy inflation (6.1%) due to falling charcoal and petroleum prices has helped balance overall inflation. Government interventions, particularly the NFRA’s release of 47,238 tonnes of food and increased stocks to 509,990 tonnes, demonstrate effective supply-side management. In Zanzibar, lower headline inflation (4.2%) reflects improved food supply dynamics. Continued monetary policy vigilance, agricultural investment, and infrastructure improvements will be critical to sustaining inflation stability amidst global and domestic risks.
1. Headline Inflation
Stability at 3.2%: The annual headline inflation rate in Tanzania remained steady at 3.2% in May 2025, consistent with April 2025. This stability reflects a balance between rising food prices and declining non-food inflation, keeping overall inflation within the national target range.
Regional Benchmark Compliance: The 3.2% rate aligns with the Southern African Development Community (SADC) target of 3–7% and the East African Community (EAC) benchmark of ≤8%. This positions Tanzania as a stable performer in the region, avoiding the hyperinflationary pressures seen in some neighboring economies.
Implications: The consistency in headline inflation suggests effective monetary policy management by the Bank of Tanzania (BoT), particularly in maintaining the Central Bank Rate (CBR) at 6% to shield the economy from external shocks like trade tariffs and geopolitical tensions. Stable inflation supports consumer purchasing power and investor confidence, critical for sustaining economic growth amidst global uncertainties.
2. Food Inflation
Increase to 5.6%: Food inflation rose to 5.6% in May 2025, up from 5.3% in April 2025 and significantly higher than 1.6% in May 2024. This increase is a key driver of inflationary pressure in Tanzania, given the high weight of food in the Consumer Price Index (CPI) basket.
Drivers of Food Inflation:
Supply-Demand Imbalances: Heavy rains disrupted transportation networks, hindering the distribution of agricultural goods. These likely caused temporary shortages, pushing up prices for staple foods.
Higher Staple Food Prices: Maize and rice, critical components of the Tanzanian diet, saw notable price increases. These staples are highly sensitive to supply chain disruptions and weather-related challenges, which are common in Tanzania’s rain-dependent agricultural sector.
Context and Implications: Food inflation’s rise reflects Tanzania’s vulnerability to climatic shocks, as agriculture remains a cornerstone of the economy. The significant jump from 1.6% in May 2024 to 5.6% in May 2025 underscores the impact of seasonal and logistical challenges. This trend could strain low-income households, for whom food constitutes a large share of expenditure, potentially increasing poverty risks if unchecked.
3. Non-Food Inflation
Decline in Non-Food Inflation: Non-food inflation decelerated in May 2025, helping to offset the rise in food inflation and stabilize headline inflation. The document does not specify the exact rate, but the decline indicates softer price pressures in categories like housing, transport, and services.
Implications: The reduction in non-food inflation suggests stable or declining costs in imported goods, manufactured products, or services, possibly due to favorable global commodity price trends (e.g., declining petroleum prices) or effective domestic policy measures. This balance is crucial for maintaining overall inflation within target ranges, as non-food items often have a lower weight in the CPI but are sensitive to external price shocks.
4. Core Inflation
Easing to 2.1%: Core inflation, which excludes volatile items like energy, utilities, and unprocessed food, dropped to 2.1% in May 2025 from 2.2% in April 2025. This measure reflects underlying inflationary pressures and is a key indicator for monetary policy.
Shifting Influence: The document notes that core inflation’s share in overall inflation is shrinking, while food inflation’s influence is rising. This shift highlights the growing dominance of food prices in driving Tanzania’s inflation dynamics.
Implications: The easing of core inflation suggests that non-volatile price pressures are well-contained, likely due to stable monetary conditions and the BoT’s efforts to keep the 7-day interbank rate within the 4–8% target band. However, the increasing influence of food inflation indicates that supply-side factors (e.g., agricultural productivity, weather) are becoming more critical to inflation management.
5. Energy, Fuel, and Utilities
Decline to 6.1%: Inflation in the energy, fuel, and utilities category fell to 6.1% in May 2025 from 7.3% in April 2025. This decline contributed significantly to moderating overall inflation.
Key Drivers:
Falling Wood Charcoal Prices: As a widely used energy source in Tanzania, particularly in rural areas, the decline in charcoal prices likely reflects improved supply or reduced demand pressures.
Global Petroleum Price Easing: The global commodity market saw softer crude oil prices due to weaker demand and increased OPEC+ output. This translated into lower prices for petrol, diesel, and kerosene in Tanzania, easing transport and household energy costs.
Context and Implications: The decline in energy inflation is a positive development for Tanzania, where fuel and energy costs directly impact transport and production expenses. Lower petroleum prices reduce input costs for businesses, potentially supporting economic activity. However, reliance on wood charcoal highlights the need for sustainable energy transitions to reduce environmental impacts and price volatility.
6. Monthly Inflation Movements
Month-on-Month Inflation at 0.1%: On a month-to-month basis, overall inflation was minimal at 0.1% in May 2025. This low rate indicates stable price movements in the short term, despite annual food inflation pressures.
Implications: The subdued month-on-month inflation suggests that price spikes are not accelerating rapidly, giving policymakers room to monitor trends without immediate intervention. However, the annual food inflation increases warrants vigilance to prevent broader price pressures.
7. Inflation by Key Categories (Annual, May 2025)
Category
Annual Inflation
Food & Non-Alcoholic Beverages
5.6%
Housing, Water, Electricity, Gas
3.4%
Transport
1.7%
Education
3.2%
Services (Overall)
1.0%
Goods (Overall)
4.2%
Analysis:
Food & Non-Alcoholic Beverages (5.6%): The highest inflation rate among categories, driven by supply chain disruptions and higher staple food prices. This category’s weight in the CPI basket makes it a dominant factor in headline inflation.
Housing, Water, Electricity, Gas (3.4%): Moderate inflation reflects stable utility costs, supported by declining energy prices. This category benefits from global petroleum trends and domestic infrastructure investments.
Transport (1.7%): Low inflation is likely due to falling fuel prices, which reduce transport costs. This is significant for Tanzania’s economy, where transport costs influence goods distribution.
Education (3.2%): Stable inflation suggests controlled fee increases, possibly due to government subsidies or regulated private sector pricing.
Services (1.0%): The lowest inflation rate indicates subdued price pressures in service sectors like telecommunications and personal services, possibly due to competition or technological efficiencies.
Goods (4.2%): Higher than services, reflecting the impact of food and imported goods prices on overall goods inflation.
Implications: The divergence between goods (4.2%) and services (1.0%) inflation highlights the supply-side pressures on physical goods, particularly food, compared to more stable service sectors. Policymakers may prioritize addressing food supply constraints to balance inflation across categories.
8. Government Intervention
National Food Reserve Agency (NFRA) Actions:
Release of 47,238 Tonnes: In May 2025, the NFRA released 47,238 tonnes of food to stabilize food prices. This intervention aimed to counter supply shortages caused by heavy rains and transportation challenges.
Stock Increase to 509,990 Tonnes: NFRA food stocks grew to 509,990 tonnes in May 2025, up by 170,000 tonnes from May 2024. This increase was driven by:
Good Harvest: Favorable agricultural output in the 2024/25 season boosted food supply.
Increased Funding: Enhanced government funding for grain procurement strengthened NFRA reserves.
Implications: The NFRA’s proactive measures demonstrate a robust response to food inflation pressures. The significant stock increase provides a buffer against future supply shocks, potentially mitigating price volatility in 2025/26. However, sustained investment in agricultural infrastructure (e.g., irrigation, storage, and transport) is needed to address structural supply chain issues.
9. Zanzibar-Specific Inflation Trends
Decline in Headline Inflation: In Zanzibar, annual headline inflation fell to 4.2% in May 2025 from 4.3% in April 2025 and 5.3% in May 2024. This decline was primarily driven by:
Easing Food Inflation: Food inflation dropped to 3.9% in May 2025 from 4.1% in April 2025 and 8.9% in May 2024, attributed to improved domestic production and stable imports, particularly for sugar, rice, and yellow cooking bananas.
Monthly Increase: Month-on-month inflation rose to 1.0% in May 2025 from 0% in April 2025, indicating short-term price pressures.
Implications: Zanzibar’s lower inflation rate compared to May 2024 reflects successful supply-side interventions and stable import flows. The region’s reliance on tourism and imports makes it sensitive to global price trends, but improved agricultural output has helped moderate food prices. The month-on-month increase suggests ongoing monitoring is needed to prevent renewed inflationary pressures.
10. Broader Economic Context
Global Influences: The document highlights global factors impacting Tanzania’s inflation, such as declining crude oil prices due to weaker demand and increased OPEC+ output. These trends have lowered energy costs, supporting the decline in energy and fuel inflation. However, geopolitical tensions and trade protectionism pose risks to global commodity prices, which could indirectly affect Tanzania’s import-dependent sectors.
Monetary Policy Support: The BoT’s decision to maintain the CBR at 6% and keep the 7-day interbank rate within 4–8% has helped anchor inflation expectations. This stability is critical in a context of global economic uncertainty, as noted in the document’s discussion of the Global Economic Policy Uncertainty Index and Trade Policy Uncertainty Index.
External Sector Performance: The narrowing of Tanzania’s current account deficit to USD 2,117.5 million in the year ending May 2025, driven by strong export performance (e.g., gold, cashew nuts), supports foreign exchange stability. This stability helps moderate imported inflation, particularly for fuel and manufactured goods.
11. Potential Risks and Outlook
Risks:
Food Supply Volatility: Continued reliance on rain-fed agriculture makes Tanzania vulnerable to weather shocks, which could exacerbate food inflation.
Global Commodity Price Fluctuations: While petroleum prices have eased, any reversal due to geopolitical events or OPEC+ policy changes could increase energy inflation.
Logistical Challenges: Transportation disruptions, as seen with heavy rains, highlight the need for improved infrastructure to ensure stable food distribution.
Outlook:
The BoT’s proactive monetary policy and NFRA interventions should help keep inflation within target ranges in the near term. The 509,990-tonne food stock provides a strong buffer against short-term supply shocks.
Investments in agriculture, as outlined in the proposed 2025/26 budget, could enhance food security and reduce inflation volatility.
Continued global easing of petroleum prices and stable export performance (e.g., gold, cashew nuts) will support low non-food and energy inflation, provided global uncertainties do not escalate.
Below is a structured table summarizing the key figures related to Tanzania’s inflation trends as of May 2025, drawn from the provided Bank of Tanzania. The table focuses on data from relevant sections and the narrative. The table is organized to clearly present the inflation metrics and related government interventions.
Tanzania Inflation Trends (May 2025) - Key Figures
Category
Key Figures
Headline Inflation (Annual)
3.2% in May 2025, unchanged from April 2025
Food Inflation (Annual)
5.6% in May 2025, up from 5.3% in April 2025 and 1.6% in May 2024
Non-Food Inflation (Annual)
Declined in May 2025 (exact rate not specified due to truncation)
Core Inflation (Annual)
2.1% in May 2025, down from 2.2% in April 2025
Energy, Fuel, and Utilities Inflation (Annual)
6.1% in May 2025, down from 7.3% in April 2025
Month-on-Month Inflation (Overall)
0.1% in May 2025
Inflation by Key Categories (Annual, May 2025)
- Food & Non-Alcoholic Beverages
5.6%
- Housing, Water, Electricity, Gas
3.4%
- Transport
1.7%
- Education
3.2%
- Services (Overall)
1.0%
- Goods (Overall)
4.2%
NFRA Food Stocks (May 2025)
509,990 tonnes, up by 170,000 tonnes from May 2024
NFRA Food Released (May 2025)
47,238 tonnes (to stabilize food prices)
Zanzibar Headline Inflation (Annual)
4.2% in May 2025, down from 4.3% in April 2025 and 5.3% in May 2024
Zanzibar Food Inflation (Annual)
3.9% in May 2025, down from 4.1% in April 2025 and 8.9% in May 2024
Zanzibar Month-on-Month Inflation
1.0% in May 2025, up from 0% in April 2025
Notes
Context:
Mainland Tanzania: The 3.2% headline inflation is within the SADC (3–7%) and EAC (≤8%) benchmarks, reflecting effective monetary policy (e.g., Central Bank Rate at 6%).
Food Inflation Drivers: The rise to 5.6% is due to supply-demand imbalances from heavy rains affecting transportation and higher prices for staples like maize and rice.
Zanzibar: The decline in inflation (4.2%) is driven by improved food supply, particularly for sugar, rice, and yellow cooking bananas.
NFRA Intervention: The release of 47,238 tonnes and increased stocks to 509,990 tonnes highlight proactive measures to curb food price volatility.
Tanzania’s inflation rate of 3.0% in October 2024 highlights its remarkable economic stability, outperforming many African countries. With projections of further decline to 2.5% by 2026, Tanzania’s prudent fiscal and monetary policies position it as a competitive and attractive destination for investment and trade in East Africa and beyond.
Tanzania's Inflation Overview:
Current Rate: 3.0% (October 2024), a decrease from 3.1% in September 2024.
Historical Context:
Average (1999-2024): 6.28%.
Peak: 19.8% in December 2011.
Lowest: 3.0% in November 2018.
Projections:
End of 2024: Expected to remain at 3.0%.
2025: Projected at 2.7%.
2026: Projected at 2.5%.
Comparison with East African Countries:
Kenya: 2.7% (October 2024) – slightly lower than Tanzania.
Uganda: 2.9% (October 2024) – marginally lower than Tanzania.
East Africa: Tanzania maintains a stable inflation rate within the region, performing better than countries like Ethiopia and Sudan, which face double-digit inflation.
Africa: Tanzania's inflation rate is among the lowest in the continent, reflecting stable monetary and fiscal policies compared to nations like Zimbabwe and Nigeria that struggle with high inflation.
Global Trends: The current inflation rate in Tanzania aligns with global trends of decreasing inflation, especially in Emerging Markets and Developing Economies (EMDEs).
Strategic Outlook for Tanzania:
Maintaining low inflation enhances Tanzania’s economic attractiveness for investment.
Continued focus on fiscal discipline and prudent monetary policy will help Tanzania sustain inflation stability, bolstering economic growth amidst global uncertainties.
Implications of Tanzania's Inflation Trends and Comparisons
Economic Stability:
Tanzania’s inflation rate of 3.0% reflects macroeconomic stability. It signals controlled price levels and effective management of monetary policy by the Bank of Tanzania.
Regional Competitiveness:
In East Africa, Tanzania’s inflation is comparable to Kenya (2.7%) and Uganda (2.9%), showing it is performing well within the region.
This makes Tanzania attractive for investments and trade compared to neighboring countries facing higher price volatility.
Low Inflation Advantages:
Consumers: Stable inflation preserves purchasing power, ensuring that basic goods and services remain affordable.
Businesses: Predictable price levels reduce uncertainty, encouraging investment and expansion.
Government: Low inflation helps manage public finances better as borrowing costs remain under control.
Comparison to Africa:
Tanzania is among the low-inflation countries in Africa, significantly better than nations like Nigeria (33.88%) or Zimbabwe (57.5%).
This highlights Tanzania as a model for price stability in Sub-Saharan Africa, enhancing its reputation among global investors.
Policy Success:
Sustained low inflation reflects effective fiscal policies, stable exchange rates, and good food supply management, vital for keeping inflation in check.
Projection Implications:
Future Outlook: Inflation is projected to decrease further to 2.7% in 2025 and 2.5% in 2026, indicating continued economic resilience.
Lower inflation will strengthen Tanzania’s position in the global market, offering confidence to foreign investors.
Risks to Watch:
External shocks like global oil price hikes or disruptions in food supply could increase inflation.
Regional instability or currency fluctuations could also affect inflation dynamics.
Conclusion
Tanzania’s controlled inflation tells a story of economic discipline, regional competitiveness, and future potential. It positions the country as a stable and attractive hub for business and investment in Africa.
