Inflation almost at a standstill in October

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Inflation almost at a standstill in October

7:35 CAT | 14 Nov 2018

Picture: Lusa

Inflation in Mozambique slowed to a virtual standstill in October, according to the latest figures released by the National Statistics Institute (INE).

Calculated from the consumer price indices of the three largest cities (Maputo, Nampula and Beira), inflation over the month was just 0.07 per cent.

The accumulated inflation over the first ten months of the year was 2.87 per cent. Yearly inflation (1 November 2017 to 31 October 2018) was 4.75 per cent. There is thus a very good chance that inflation for all of 2018 will be well under five per cent.

Among the price rises that occurred in October, the average price of fresh fish in the three cities rose by 1.2 per cent, and of chickens by 1.3 per cent. Other goods that rose in price included sweet potato (13.1 per cent), cabbage (6.9 per cent), lettuce (4.7 per cent), and fresh prawns (five per cent).

These were compensated or by a range of produce whose prices fell, including dried fish (down by 2.1 per cent), coconuts (5.1 per cent), eggs (2.6 per cent), cassava flour (7.1 per cent), maize flour (1.8 per cent), and rice (0.9 per cent).

Broken down by city, inflation was higher in Nampula (0.14 per cent) and in Beira (0.13 per cent) than in Maputo (0.02 per cent).

Source: AIM