Mozambique’s foreign reserves continue to grow
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Mozambique has seen a rise in prices (inflation) of 21.57 percent since March 2016, according to data from the National Statistics Institute (INE) Lusa had access to.
The report on the Consumer Price Index for the month of March concludes that “compared to the same period of 2016, the country registered a price increase of 21.57 percent”.
Clothing and footwear products were the ones which, year-on-year, registered “the biggest price increase with 31.42 percent”, adds the document.
Year-on-year, the city of Beira experienced the greatest increase in its general price level with a 23.61 percent increase, followed by Nampula with 21.44 percent and Maputo with a rise of 20.93 percent.
Also according to the same report, Mozambique recorded a monthly accumulated inflation of 0.85 percent in March.
According to the INE, the housing, water, electricity, gas and other fuels and transportation sectors were those with the greatest impact on the general price level increase in March, with contributions of 0.39 and 0.22 percentage points, respectively.
Maputo, Beira and Nampula are the three cities that serve as reference to INE for the calculation of the price trend in the country.
For 2017, the Bank of Mozambique expects an inflation of 14 percent against 25.26 percent in 2016.Source: Lusa