Fall in oil prices pushes inflation down

Tanzania’s annual headline inflation rate decreased to 5.9 per cent in October 2014, from 6.6 per cent recorded in September as the speed of food prices went down during the month, National Bureau of Statistics (NBS) announced in Dar es Salaam yesterday.

This year has started with relief to fuel consumers as the regulator announced lower prices for petrol, diesel and kerosene through January.

Prices of petroleum products have been going down in Tanzania as the country responds to the declining global prices. However, the price drops make little sense to Iliyasa Haji, a resident of Mbezi and a supplier of Irish potatoes to Mabibo and Mbagala markets.

>East African countries are unlikely to significantly benefit from falling global oil prices due to inadequate storage facilities, according to the study by Deloitte East Africa.

Oil Prices Fall in Asia After Thursday Surge: Live Updates  The New York TimesTrump tells CNBC he spoke to Putin, MBS and expects Saudis, Russia to announce 10 million barrel cut  CNBCOil prices spike by a record 25% as Trump talks up huge production cuts and Saudi Arabia calls for OPEC meeting  CNNTrump’s 10 Million Barrel Tweet Is Performance Art  BloombergCommentary: Even with low prices, this is not the end of oil  CNAView Full coverage on Google...

>Tanzania’s inflation rate has increased to 6.5 per cent in July compared to 6.4 per cent recorded in June, National Bureau of Statistics announced yesterday. 

Swelling prices of consumer goods sent the rate of prices increasing (inflation rate) up by 0.2 per cent in October, the National Bureau of Statistics (NBS) announced yesterday.

> The Energy and Water Utilities Regulatory Authority (Ewura) yesterday announced a significant reduction in fuel prices.

The demand for Tanzania’s skins of sheep and goats has fallen. The country mainly depends on China for its skin sales, but the situation has changed.