Dec. 17 (Bloomberg) -- Tanzania’s inflation rate declined for the 11th consecutive month in November as food-price increases slowed.
The inflation rate in East Africa’s second-biggest economy dropped to 12.1 percent from 12.9 percent in October, the National Bureau of Statistics said in a statement handed to journalists today in Dar es Salaam, Tanzania’s commercial hub. Prices rose 0.7 percent in the month, it said.
The food-inflation rate dropped to 13.7 percent in November from 15 percent previously, according to the statement.
Inflation is a “major challenge” for Tanzania’s economy and the government will continue providing subsidies to farmers to help curb food-price increases, President Jakaya Kikwete said Nov. 12. The government is targeting inflation below 10 percent in the “next few months,” the International Monetary Fund said in October.
To contact the reporter on this story: David Malingha Doya in Dar es Salaam via Nairobi at email@example.com.
To contact the editor responsible for this story: Paul Richardson at firstname.lastname@example.org.