Mozambique: Average 12M inflation in July slows for third month to 3.61% – INE

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Mozambique: Average 12M inflation in July slows for third month to 3.61% – INE

3:00 CAT | 22 Aug 2019

in file CoM

Average inflation over 12 months in Mozambique slowed in July for a third consecutive month, to 3.61%, according to data from the National Statistics Institute (INE) seen by Lusa on Tuesday.

The rate was at 4.0% in May and 3.83% in June, so recording a 0.22-point reduction in July.

Inflation is now considerably lower than in past years, steadily declining since May 2017, when it was 22.33%.

Year-on-year inflation in July alone was 2.16%, according to the INE report on the consumer price index (CPI). Prices were down 0.31% on the month.

The values for CPI are calculated from the price variations of a basket of goods and services, with data collected in the cities of Maputo, Beira and Nampula.

Cumulative inflation in the first seven months of this year is 1.07%.

According to the INE, cumulative inflation (yearly) in 2018 was 3.52%, the same rate as year-on-year inflation in December of the last year.

Last year’s month-on-month price increases were always below 1% and were negative in June and July.

Source: Lusa