Editorial: Reserve food may help ease soaring inflation

All around the nation, there are countless complaints regarding food inflation, which primarily affects individuals of low and middle income.

Food prices in Dar es Salaam and several other cities have nearly doubled since last month. Prior to the latest prices, figures from the National Bureau of Statistics (NBS) showed that inflation had fallen to 4.8 percent in December from 4.9 percent in November 2022.

However, the situation has deteriorated in less than a month, with a report from the ministry of Industry, Trade and Investment revealing that prices for maize, beans and Irish potatoes, to name a few, have increased by slightly more than 50 percent

Nonetheless, an independent assessment found that nearly every food item is now more expensive, with prices climbing by up to 73 percent in January.

Indeed, the majority of Tanzanians, who can hardly afford at least three meals at present pricing, are concerned.

The same factors are driving inflation: Covid-19, the Russia-Ukraine crisis, rising fuel prices, and unpredictability in the past two crop seasons. These are understandable, but the deteriorating situation necessitates prompt action to provide relief to Tanzanians.

Mr Hussein Bashe, the Agriculture minister, is correct in his assessment of the necessity for the National Food Reserve Agency (NFRA) to sell food commodities at a reasonable price.

Releasing enough grain into the market at lower prices will almost certainly cause other traders to reconsider establishing new profit targets, which could lead to lower inflation.

In many areas of the country, it is rainy season, but the typical staple food supplies have not yet flooded the markets, so the populace may have to endure the painful inflation for a few more weeks.

To save the lives of millions of Tanzanians who are trying to deal with the inflation rate, food from the NRFA should be released quickly.