Headline inflation rose to 4.3%.
Rose 0.1 pp from the preceding month’s annual rate. Core inflation was 4.1% (Rose 0.2 pp).
How to read this change
Rose 0.1 pp from the preceding month’s annual rate. Core inflation was 4.1% (Rose 0.2 pp).
Tanzania macro · Aug 2026
Inflation rose. Credit growth quickened.
Prices, credit and external buffers from the Bank of Tanzania’s Monthly Economic Review. Read the change, inspect the history and keep Mainland and Zanzibar distinct.
What changed in Aug 2026
Changes compare annual rates and observed levels with the preceding month. They are not forecasts or investment advice.
Read the price record →
Private-credit annual growth quickened to 33%.
Rose 1.8 pp. This is the annual pace of lending growth, not the amount lent.
How to read this change
Rose 1.8 pp. This is the annual pace of lending growth, not the amount lent.
Reserves fell while projected import cover fell.
Reserves: USD 5.89bn (Fell 0.31 USD bn). Cover: 4.2 months (Fell 0.6 months). A larger dollar stock need not cover more months of projected imports. Exports of goods and services totalled 20.22 USD bn over twelve months; annual growth was 16.4%.
How to read this change
Reserves: USD 5.89bn (Fell 0.31 USD bn). Cover: 4.2 months (Fell 0.6 months). A larger dollar stock need not cover more months of projected imports. Exports of goods and services totalled 20.22 USD bn over twelve months; annual growth was 16.4%.
Zanzibar inflation was 5.6%, 1.3pp above Mainland.
Fell 0.4 pp. Zanzibar food inflation was 9.8%. Separate baskets and geographies remain explicit.
How to read this change
Fell 0.4 pp. Zanzibar food inflation was 9.8%. Separate baskets and geographies remain explicit.
- Inflation, annual
- 4.3% Rose 0.1 pp
- Private credit, annual growth
- 33% Rose 1.8 pp
- Gross official reserves
- USD 5.89bn Fell 0.31 USD bn
- Import cover, projected
- 4.2 months Fell 0.6 months
Aug 2026 · BoT MER · Source ↗ · Revision record →
Monthly evidence
Inflation and private-credit growth
Two annual rates, two independently labelled scales. Read each path against its own history; their vertical positions are not comparable.
Sep 2023 to Aug 2026 · gaps remain visible. Chart readouts are rounded; Values retains full precision.
Headline inflation
% change from the same month a year earlier
Private-credit growth
% change from the same month a year earlier
Headline inflation: 4.3Private-credit growth: 33
Values
Source and method
Headline inflation measures annual consumer-price change. Credit growth measures annual change in private-sector lending stock. Direct MER annual growth takes precedence; other months retain the reconciled KCP year-on-year transformation. Missing months remain gaps.
Each row retains its report and observation month. Month inspection updates the citation and source; it never fills a missing reading.
Report: Monthly Economic Review; September 2026. Published 30 Sep 2026.
Image and data exports are not offered for these source-restricted records.
Monthly evidence
Reserves and projected import cover
A dollar stock and a coverage ratio answer different questions. They can move in opposite directions.
Sep 2023 to Aug 2026 · gaps remain visible. Chart readouts are rounded; Values retains full precision.
Gross official reserves
USD bn
Projected import cover
Months of projected imports
Gross official reserves: 5.89Projected import cover: 4.2
Values
Source and method
Gross official foreign-exchange reserves are in USD billions. Import cover is months of projected imports, not a count of past imports. Each panel retains its own numerical scale and observation month.
Each row retains its report and observation month. Month inspection updates the citation and source; it never fills a missing reading.
Report: Monthly Economic Review; September 2026. Published 30 Sep 2026.
Image and data exports are not offered for these source-restricted records.
Zanzibar
A separate price and public-finance record
Annual inflation rates can be compared, while baskets remain different. Monthly fiscal flows and rolling twelve-month external totals stay separate. CPI bases: January 2017, January 2021 and July 2022; index levels are never spliced across those boundaries.
- Inflation, annual
- 5.6%
- Food inflation, annual
- 9.8%
- Current account, rolling 12 months
- USD 953.7m
- Fiscal balance, monthly
- Not shown this month
For 2026-08, the MER prose total and grants chart conflict. The discrepancy remains unresolved; resources and grants are withheld. The current monthly fiscal balance is not reported. Verified historical readings remain available below. Official MER, printed page 17 ↗
Monthly evidence
Mainland and Zanzibar inflation
Annual consumer-price changes on one shared scale, with solid and dashed lines. The rates describe different geographic baskets.
Sep 2023 to Aug 2026 · gaps remain visible. Chart readouts are rounded; Values retains full precision.
Mainland / Zanzibar
% change from the same month a year earlier
Mainland
4.3%
Solid line
Zanzibar
5.6%
Dashed line
Annual rates on one shared scale. CPI index levels with different bases are never spliced.
Mainland: 4.3Zanzibar: 5.6
Zanzibar less Mainland, percentage points: 1.3 pp. A difference between annual rates, not between price levels.
Values
Source and method
Both series are annual rates for the same observation month. This permits a percentage-point comparison, not a comparison of absolute price levels or a claim that the baskets are identical.
Each row retains its report and observation month. Month inspection updates the citation and source; it never fills a missing reading.
Report: Monthly Economic Review; September 2026. Published 30 Sep 2026.
Image and data exports are not offered for these source-restricted records.
Monthly evidence
Zanzibar exports and imports
Rolling twelve-month totals in USD millions. Exports less imports is an arithmetic comparison, not the current-account balance.
Sep 2023 to Aug 2026 · gaps remain visible. Chart readouts are rounded; Values retains full precision.
Exports
USD mn, rolling 12 months
Imports
USD mn, rolling 12 months
Exports: 1,847Imports: 909.5
Exports less imports: +937.5 USD mn. KCP arithmetic on two rolling twelve-month totals; this is not the current account. The 2023 to 2024 level break is not explained by the source.
Values
| Month | Exports USD mn, rolling 12 months | Imports USD mn, rolling 12 months | Exports less imports, USD mn | Report |
|---|---|---|---|---|
| Jan 2023 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; March 2023 |
| Feb 2023 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; March 2023 |
| Mar 2023 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; April 2023 |
| Apr 2023 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; May 2023 |
| May 2023 | 205.6 | 593.2 | -387.6 | Monthly Economic Review; July 2023 |
| Jun 2023 | 202.1 | 593.5 | -391.4 | Monthly Economic Review; July 2023 |
| Jul 2023 | 205.2 | 633.4 | -428.2 | Monthly Economic Review; August 2023 |
| Aug 2023 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; September 2023 |
| Sep 2023 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; July 2024 |
| Oct 2023 | 204 | 652.8 | -448.8 | Monthly Economic Review; November 2023 |
| Nov 2023 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; December 2023 |
| Dec 2023 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; January 2024 |
| Jan 2024 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; March 2024 |
| Feb 2024 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; March 2024 |
| Mar 2024 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; April 2024 |
| Apr 2024 | 1,084.9 | Not reported this month | Not reported this month | Monthly Economic Review; July 2024 |
| May 2024 | 1,084.9 | 591.8 | 493.1 | Monthly Economic Review; July 2024 |
| Jun 2024 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; July 2024 |
| Jul 2024 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; August 2024 |
| Aug 2024 | 1,036.9 | 576.2 | 460.7 | Monthly Economic Review; September 2024 |
| Sep 2024 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; October 2024 |
| Oct 2024 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; December 2024 |
| Nov 2024 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; December 2024 |
| Dec 2024 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; January 2025 |
| Jan 2025 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; February 2025 |
| Feb 2025 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; March 2025 |
| Mar 2025 | 1,152.8 | 612.9 | 539.9 | Monthly Economic Review; April 2025 |
| Apr 2025 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; May 2025 |
| May 2025 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; June 2025 |
| Jun 2025 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; December 2025 |
| Jul 2025 | 1,209.5 | 584 | 625.5 | Monthly Economic Review; December 2025 |
| Aug 2025 | Not reported this month | 648 | Not reported this month | Monthly Economic Review; September 2025 |
| Sep 2025 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; December 2025 |
| Oct 2025 | 1,564.3 | 656.4 | 907.9 | Monthly Economic Review; December 2025 |
| Nov 2025 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; December 2025 |
| Dec 2025 | 1,591.9 | 666.5 | 925.4 | Monthly Economic Review; January 2026 |
| Jan 2026 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; February 2026 |
| Feb 2026 | 1,625 | 743.9 | 881.1 | Monthly Economic Review; March 2026 |
| Mar 2026 | 1,633.3 | 768.7 | 864.6 | Monthly Economic Review; April 2026 |
| Apr 2026 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; May 2026 |
| May 2026 | 1,639.7 | 785.2 | 854.5 | Monthly Economic Review; June 2026 |
| Jun 2026 | 1,796.6 | 785.7 | 1,010.9 | Monthly Economic Review; July 2026 |
| Jul 2026 | 1,813.9 | 1,057.7 | 756.2 | Monthly Economic Review; August 2026 |
| Aug 2026 | 1,847 | 909.5 | 937.5 | Monthly Economic Review; September 2026 |
Source and method
Exports and imports use the same rolling twelve-month period. The balance is computed only for exact monthly pairs. Missing observations remain gaps, and the source’s 2023 to 2024 level break is not explained as an economic event.
Each row retains its report and observation month. Month inspection updates the citation and source; it never fills a missing reading.
Report: Monthly Economic Review; September 2026. Published 30 Sep 2026.
Image and data exports are not offered for these source-restricted records.
Monthly evidence
Zanzibar monthly fiscal record
Resources, expenditure and the explicitly reported balance, in TZS billions. The selected month stays visible even when a field is missing.
Sep 2023 to Aug 2026 · gaps remain visible. Chart readouts are rounded; Values retains full precision.
Resources
TZS bn, monthly
Expenditure
TZS bn, monthly
Reported balance
TZS bn, monthly
Resources: Not reported this monthExpenditure: 459Reported balance: Not reported this month
Balance is shown only where explicitly reported. Gaps are not zero. Resources are not inferred from the balance.
Values
| Month | Resources TZS bn, monthly | Expenditure TZS bn, monthly | Reported balance TZS bn, monthly | Report |
|---|---|---|---|---|
| Jan 2023 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; March 2023 |
| Feb 2023 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; March 2023 |
| Mar 2023 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; April 2023 |
| Apr 2023 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; May 2023 |
| May 2023 | Not reported this month | 135.5 | Not reported this month | Monthly Economic Review; July 2023 |
| Jun 2023 | 128.6 | Not reported this month | Not reported this month | Monthly Economic Review; July 2023 |
| Jul 2023 | 93.5 | Not reported this month | -11.7 | Monthly Economic Review; August 2023 |
| Aug 2023 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; September 2023 |
| Sep 2023 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; July 2024 |
| Oct 2023 | 122.5 | Not reported this month | Not reported this month | Monthly Economic Review; November 2023 |
| Nov 2023 | 113 | 215.7 | Not reported this month | Monthly Economic Review; December 2023 |
| Dec 2023 | 161.8 | Not reported this month | Not reported this month | Monthly Economic Review; January 2024 |
| Jan 2024 | Not reported this month | Not reported this month | -13.7 | Monthly Economic Review; March 2024 |
| Feb 2024 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; March 2024 |
| Mar 2024 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; April 2024 |
| Apr 2024 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; July 2024 |
| May 2024 | 130.9 | 205.1 | Not reported this month | Monthly Economic Review; July 2024 |
| Jun 2024 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; July 2024 |
| Jul 2024 | 118.1 | Not reported this month | Not reported this month | Monthly Economic Review; August 2024 |
| Aug 2024 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; September 2024 |
| Sep 2024 | 173.1 | Not reported this month | Not reported this month | Monthly Economic Review; October 2024 |
| Oct 2024 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; December 2024 |
| Nov 2024 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; December 2024 |
| Dec 2024 | Not reported this month | 362 | Not reported this month | Monthly Economic Review; January 2025 |
| Jan 2025 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; February 2025 |
| Feb 2025 | Not reported this month | 179.1 | Not reported this month | Monthly Economic Review; March 2025 |
| Mar 2025 | 160.1 | 237.2 | Not reported this month | Monthly Economic Review; April 2025 |
| Apr 2025 | Not reported this month | 219.3 | Not reported this month | Monthly Economic Review; May 2025 |
| May 2025 | 117.1 | Not reported this month | Not reported this month | Monthly Economic Review; June 2025 |
| Jun 2025 | 185 | 431.6 | Not reported this month | Monthly Economic Review; December 2025 |
| Jul 2025 | 176.2 | 200.7 | -24.5 | Monthly Economic Review; December 2025 |
| Aug 2025 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; September 2025 |
| Sep 2025 | 240.1 | 420.1 | -180 | Monthly Economic Review; December 2025 |
| Oct 2025 | Not reported this month | Not reported this month | -91.7 | Monthly Economic Review; December 2025 |
| Nov 2025 | Not reported this month | 286.6 | Not reported this month | Monthly Economic Review; December 2025 |
| Dec 2025 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; January 2026 |
| Jan 2026 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; February 2026 |
| Feb 2026 | Not reported this month | Not reported this month | Not reported this month | Monthly Economic Review; March 2026 |
| Mar 2026 | Not reported this month | 398 | Not reported this month | Monthly Economic Review; April 2026 |
| Apr 2026 | 249.2 | 372.5 | -123.3 | Monthly Economic Review; May 2026 |
| May 2026 | 133.3 | 309 | -175.7 | Monthly Economic Review; June 2026 |
| Jun 2026 | 204.4 | 423.6 | -219.2 | Monthly Economic Review; July 2026 |
| Jul 2026 | 188.1 | 304.5 | -116.4 | Monthly Economic Review; August 2026 |
| Aug 2026 | Not reported this month | 459 | Not reported this month | Monthly Economic Review; September 2026 |
Source and method
Monthly flows are distinct from annual totals. Resources use a direct source reading only; no arithmetic reconstruction fills a withheld field. Fiscal balance appears only where expressly reported. Unreported months and unresolved source conflicts are gaps.
Each row retains its report and observation month. Month inspection updates the citation and source; it never fills a missing reading.
Report: Monthly Economic Review; September 2026. Published 30 Sep 2026.
Image and data exports are not offered for these source-restricted records.
Transmission context
From policy and funding to prices
These are possible channels to investigate, not proof that one reading caused another. Each observation keeps its own date.
- Policy rate
- 6.25% · BoT
- 364-day bill yield
- 6.29% · BoT
- Private-credit annual growth
- 33% · BoT
- USD/TZS
- 2,639.25 · BoT
Cost & inflation context
Read crops, fuel and CPI as one market system
Each reading keeps its own vintage. Arrows identify channels to investigate, not a claim that one observation caused the next.
Maize-to-diesel value ratio
19.2 L
litres of equivalent value
The wholesale value of 100kg of maize divided by the Dar es Salaam diesel cap. This is a relative-price lens, not an estimate of freight cost.
24 Aug 2026 crop bulletin · Sep 2026 fuel cap · KCP calculation
Dar es Salaam fuel caps
- Diesel
- TZS 3,877 / L
- -2.5% m/m · +40.8% y/y
- Petrol
- TZS 3,796 / L
- -2.6% m/m · +35.2% y/y
As at Sep 2026 · EWURA ↗
Aug 2026 inflation
- Headline
- 4.3%
- Food
- 3.7%
- Transport
- N/A
As at Aug 2026 · y/y · NBS ↗
Transport-cost pressure read
The Sep 2026 diesel cap eased 2.5% m/m, but remains 40.8% above a year earlier. Current pressure is annual, not a fresh monthly acceleration.
Price system · latest readings
From external inputs to the consumer basket
Global oil + FX
USD/TZS 2,639
4 Oct 2026
Global oil and the shilling can shape landed fuel costs. USD/TZS is the latest sourced reading here; no current global-oil spot figure is attached.
EWURA caps
Diesel 3,877 per litre. Petrol 3,796 per litre
Sep 2026
Regulated maximum retail prices for Dar es Salaam, not observed pump transactions.
Transport & processing
Transport CPI is unavailable in this record
Aug 2026
Transport CPI is a consumer-basket measure, not a crop-freight cost index.
Wholesale crops
TZS 74,500 / 100kg
24 Aug 2026
National bulletin-derived median, conditional on the markets reporting.
Consumer basket
Food 3.7%
Aug 2026
NBS annual food and headline consumer-price inflation.
Financial inclusion · mid-term evidence
Reach cleared its mid-term threshold. Depth did not move evenly.
The official evaluation shows all four selected indicators above their December 2025 milestones. Capital-market participation still has the widest distance to its 2028 target.
- Evaluation period
- Dec 2023 to Dec 2025
- Perimeter
- Tanzania Mainland and Zanzibar
Adults within 5 km of a financial access point
2025 result93%
66.7% of the distance from the 2023 baseline to the 2028 target closed
- 2023 baseline
- 89%
- 2025 target
- 92%
- 2028 target
- 95%
Mid-term target cleared: +1.0pp. 2.0pp remaining to 2028.
Adults actively using a financial account
2025 result72.5%
83.3% of the distance from the 2023 baseline to the 2028 target closed
- 2023 baseline
- 60%
- 2025 target
- 70%
- 2028 target
- 75%
Mid-term target cleared: +2.5pp. 2.5pp remaining to 2028.
Adults participating in capital markets
2025 result5.8%
44.7% of the distance from the 2023 baseline to the 2028 target closed
- 2023 baseline
- 2.4%
- 2025 target
- 5%
- 2028 target
- 10%
Mid-term target cleared: +0.8pp. 4.2pp remaining to 2028.
Adults with financial literacy
2025 result66.3%
63.0% of the distance from the 2023 baseline to the 2028 target closed
- 2023 baseline
- 60%
- 2025 target
- 65%
- 2028 target
- 70%
Mid-term target cleared: +1.3pp. 3.7pp remaining to 2028.
Annual index record
Access led the 2025 improvement.
TanFiX rose from 0.81 to 0.83. The access sub-index added 0.03 index points, while usage added 0.01.
TanFiX
20250.83
- 2024
- 0.81
- Change
- +0.02
Access
20250.87
- 2024
- 0.84
- Change
- +0.03
Usage
20250.79
- 2024
- 0.78
- Change
- +0.01
Compare each component only with itself across years. These are index points, not percentages of adults.
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