Inflation of 2.71 per cent in September – Mozambique

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Inflation of 2.71 per cent in September – Mozambique

7:29 CAT | 12 Oct 2016

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Monthly inflation in Mozambique hit 2.71 per cent in September, according to the latest figures released by the National Statistics Institute (INE), drawing on the consumer price indices in the three largest cities (Maputo, Nampula and Beira).

This compares with an inflation rate of 1.27 per cent in August, 0.9 per cent in July and 0.76 per cent in June.

As usual, most of the rise in inflation is accounted for by food prices. Thus in September, rice rose in price by 3.8 per cent, groundnuts by 10.4 per cent, cooking oil by 8.2 per cent, live chickens by eight per cent and maize flour by 2.3 per cent.

Certain cleaning products also rose sharply in price – powdered detergent by 21.3 per cent and soap by 13.1 per cent.

A few foodstuffs fell in price. Taken together, the prices of onions, garlic, tomatoes and potatoes fell by 0.22 per cent. This was nowhere near enough to compensate for the price rises.

The accumulated inflation from January to September was 14.7 per cent, and annual inflation (1 October 2015 to 30 September 2016) was 24.92 per cent. Food and drink accounted for the overwhelming bulk of this inflation.

Of the three cities, Maputo showed the sharpest price rise in September, of 3.48 per cent. Prices in Nampula rose of 2.02 per cent, and in Beira by 1.78 per cent.

Source: AIM