Mozambique: Average 12M inflation to May shows first slowdown of year – INE

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Mozambique: Average 12M inflation to May shows first slowdown of year – INE

8:40 CAT | 10 Jun 2019

in file CoM

Average inflation in Mozambique in the 12 months to May recorded its first deceleration of the year, albeit a slight one, according to figures released on Monday by the National Statistics Institute (INE).

Average inflation was down 0.08 of a percentage point to 4.0% after having previously accelerated steadily from January to April, to 4.08% from 3.91%.

The rate is now at considerably lower levels than in the past, after a steady decline since May 2017, when it reached 22.33%.

Year-on-year inflation for the month of May was 2.42%, and the INE’s Consumer Price Index (CPI) actually fell in the month, by 0.31%.

Month-on-month increases in CPI were last year always lower than 1% and were also negative in June and July.

The CPI is calculated from the prices of a basket of goods and services, with data collected in the cities of Maputo, Beira and Nampula.

Accumulated inflation in the first five months of 2019 is 1.61%.

According to the Mozambican INE, accumulated annual inflation in 2018 was 3.52%, the same rate as year-on-year inflation in December.

Source: Lusa