Mozambique: 12-month average inflation rises for the first time since 2017 – INE

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Mozambique: 12-month average inflation rises for the first time since 2017 – INE

2:17 CAT | 13 Mar 2019

File photo: Lusa

The 12-month average inflation in Mozambique rose 0.06 points to 3.97% in February, its first rise since May 2017, according to figures released today by the National Statistical Institute (INE).

The slight increase comes after the indicator, which is based on Mozambique’s Consumer Price Index (CPI) tables, was unmoved at 3.91% in December 2018 and January of this year.

The 12-month average inflation saw a downward trend every month since May 2017, when it stood at 22.33%.

Annual inflation in February in Mozambique was 3.72%, and according to INE, with monthly inflation 0.30%, less than half of January’s 0.65%.

Monthly inflation in 2018 was always less than 1%, falling into negative territory in June and July.

Mozambique’s inflation figures are calculated from the price variations of a basket of goods and services, with data collected in the cities of Maputo, Beira and Nampula.

According to the INE, accumulated (annual) inflation in Mozambique was 3.52% in 2018, the same figure as year-on-year inflation in December of last year.

Source: Lusa