Inflation in September of only 0.11 per cent

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Inflation in September of only 0.11 per cent

11:15 CAT | 17 Oct 2018

File photo: Lusa

Inflation in September was negligible, according to Mozambique’s National Statistics Institute (INE) which, based on the consumer price indices of the three largest cities (Maputo, Nampula and Beira), put inflation for the month at 0.11 per cent.

Among the goods with significant price rises over the month were sweet potato (26.5 per cent), unprocessed rice (3.6 per cent), dried fish (0.8 per cent), petrol (2.1 per cent) and diesel (1.3 per cent).

Among the products whose prices fell in the month were onions (down by 5.5 per cent), tomatoes (2.4 per cent), maize flour (1.8 per cent), coconuts (1.8 per cent), chicken (1.1 per cent) and cigarettes (1.5 per cent).

Inflation over the first three quarters of 2018, from January to September, was 2.79 per cent, while inflation over the past year (from 1 October 2017 to 30 September 2018) was 4.89 per cent. The division of goods and services which showed the sharpest rise in the consumer price indices was transport, where the annual price rise was 14.4 per cent.

The September inflation in the three cities varied slightly – it was 0.19 per cent in Nampula, 0.1 per cent in Maputo and 0.07 per cent in Beira.

At this rate, it seems very likely that the final figure for inflation in 2018 will be under five per cent, thus easily meeting the target of “single digit inflation” (i.e. less than ten per cent).

Source: AIM