Decreasing local currency pushes up food prices

Depreciating local currency and rising food prices have pushed up the annual headline inflation rate in May to 5.3%, up from the previous month’s 4.5%, the National Bureau of Statistics (NBS) announced in Dar es Salaam yesterday.
According to the statistics body, the overall index went up to 157.86 in May,2015 from 149.89 recorded in May, 2014. The bureau attributed the inflation rise to high food prices, citing some of the food items that had their prices soaring as cassava flour by 12.3 pc, meat by six pc, fish by 11.7pc, cowpea by 13.9 pc and beans by 4.2 pc, while restaurant food prices soared by 4.1 pc.
Addressing reporters, NBS director of population census and social statistics Ephraim Kwesigabo said on the other hand that some of the non-food items that contributed to the increase of by 3.5pc, gents wear by 5.6pc and accommodation services by 4.2pc.
He furthermore said food and non-alcoholic beverages inflation rate for the month of May, this year, has
increased to 8.5pc from 7.1 recorded in April, this year.
– AllAfrica.com