Inflation remained low in February

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Inflation remained low in February

7:31 CAT | 19 Mar 2019

Inflation in Mozambique in February was 0.3 per cent, according to the latest figures published by the National Statistics Institute (INE), based on the consumer price indices of the three largest cities (Maputo, Nampula and Beira).

Inflation for the first two months of the year was 0.95 per cent and inflation for the previous year (1 March 2018 to 28 February 2019) was 3.72 per cent.

Price rises in February included butter beans (6.3 per cent), cabbage (6.4 per cent), rail passenger transport (6.7 per cent), coconuts (4.5 per cent), hamburgers and similar snacks (2.9 per cent) and dried fish (1.9 per cent).

Beira was the most expensive city in February, with inflation of 0.32 per cent, followed by Maputo (0.3 per cent), and Nampula (0.29 per cent).

With inflation at this low level, the government should have little difficulty in keeping to its target of single digit inflation (i.e. less than ten per cent) for 2019. Inflation in 2018 was 3.52 per cent.

Source: AIM