Inflation remains low in May

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Inflation remains low in May

12:15 CAT | 13 Jun 2018

in file CoM

Inflation in Mozambique in May, as measured by the consumer price indices of the three largest cities (Maputo, Nampula and Beira) was 0.53 per cent, according to the latest figures issued by the National Statistics Institute (INE).

The main price increase of the month was for passenger transport, which rose by an average of 8.2 per cent. Other significant price rises were for second hand cars (5.7 per cent), onions (6.7 per cent), tomatoes (3.7 per cent), fast food such as hamburgers and hot dogs (3.1 per cent), and vegetable oil (1.6 per cent).

But these were largely offset by falls in the prices of other goods, such as soap (down by 16.6 per cent), fresh fish (21.9 per cent), cabbage (8.1 per cent), lettuce (8.3 per cent), and coconuts (1.8 per cent).

Accumulated inflation in the five months from January to May was 2.71 per cent, while inflation from 1 June 2017 to 31 May 2018 was 3.26 per cent. The largest contributor to the yearly inflation was transport, which rose by an average of 11.51 per cent.

These figures are an enormous improvement on the figure for June 2016 to May 2017, which was 20.45 per cent.

Of the three cities, Beira experienced the highest inflation in May, at 1.8 per cent. In Maputo inflation was 0.37 per cent, while in Nampula prices declined slightly, by 0.03 per cent.

Source: AIM