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- Feb 11, 2006
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* November year-on-year inflation rises to 5.5 percent
* Food price inflation 6.0 pct from 4.4 pct
* Non-food inflation rate rises to 4.9 percent
(Updates with analysts)
By Fumbuka Ng'wanakilala
DAR ES SALAAM, Dec 15 (Reuters) - Rising prices of food and non-food items like fuel pushed Tanzania's annual inflation rate up to 5.5 percent in November, the National Bureau of Statistics (NBS) said on Wednesday.
Ranked the second-largest economy in east Africa, Tanzania is attracting attention from foreign investors due to its large population of 40.7 million and fairly underdeveloped capital markets following years of tight capital controls.
The November rate, which rose from 4.2 percent in October, was calculated using a new methodology, introduced last month, that reduced the weighting of food in the basket of goods and services used to measure inflation to 47.78 percent from the previous 55.9 percent.
"The inflation rate has a tendency of rising towards the end of the year due to the holiday season. This trend has been experienced in Tanzania and other neighbouring countries, " Ephraim Kwesigabo, director of population census and social statistics at NBS, told a news conference.
Good rains have helped cap inflation in east Africa's second largest economy but rising fuel prices threaten to exert upward pressure on prices.
"The 12-month index change for food consumed at home and away from home was 6.0 percent in the year ended November 2010, as compared to 4.4 percent in the year ended October 2010," NBS said in a statement.
Among food prices that increased were bread, cereals, vegetables, cooking oil and fats, NBS said.
The "annual inflation rate for housing, water, electricity, gas and other fuel rose significantly to 14.4 percent in November compared to 10.2 percent for the year ended October."
Analysts said they expect Tanzania's inflation rate to continue rising in the coming months due to higher food and fuel prices and a weak shilling.
"The inflation rate should keep rising because fuel prices remain high and the onset of seasonal rains has been delayed. Bad weather will affect food prices, hence put pressure on inflation," Humphrey Moshi, professor of economics at the University of Dar es Salaam, told Reuters.
(Editing by Ron Askew)
* Food price inflation 6.0 pct from 4.4 pct
* Non-food inflation rate rises to 4.9 percent
(Updates with analysts)
By Fumbuka Ng'wanakilala
DAR ES SALAAM, Dec 15 (Reuters) - Rising prices of food and non-food items like fuel pushed Tanzania's annual inflation rate up to 5.5 percent in November, the National Bureau of Statistics (NBS) said on Wednesday.
Ranked the second-largest economy in east Africa, Tanzania is attracting attention from foreign investors due to its large population of 40.7 million and fairly underdeveloped capital markets following years of tight capital controls.
The November rate, which rose from 4.2 percent in October, was calculated using a new methodology, introduced last month, that reduced the weighting of food in the basket of goods and services used to measure inflation to 47.78 percent from the previous 55.9 percent.
"The inflation rate has a tendency of rising towards the end of the year due to the holiday season. This trend has been experienced in Tanzania and other neighbouring countries, " Ephraim Kwesigabo, director of population census and social statistics at NBS, told a news conference.
Good rains have helped cap inflation in east Africa's second largest economy but rising fuel prices threaten to exert upward pressure on prices.
"The 12-month index change for food consumed at home and away from home was 6.0 percent in the year ended November 2010, as compared to 4.4 percent in the year ended October 2010," NBS said in a statement.
Among food prices that increased were bread, cereals, vegetables, cooking oil and fats, NBS said.
The "annual inflation rate for housing, water, electricity, gas and other fuel rose significantly to 14.4 percent in November compared to 10.2 percent for the year ended October."
Analysts said they expect Tanzania's inflation rate to continue rising in the coming months due to higher food and fuel prices and a weak shilling.
"The inflation rate should keep rising because fuel prices remain high and the onset of seasonal rains has been delayed. Bad weather will affect food prices, hence put pressure on inflation," Humphrey Moshi, professor of economics at the University of Dar es Salaam, told Reuters.
(Editing by Ron Askew)