Mozambique: Consumer prices rise 0.16% in September after four months of falls

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Mozambique: Consumer prices rise 0.16% in September after four months of falls

1:18 CAT | 11 Oct 2024

File photo: Lusa

Prices in Mozambique rose 0.16% in September, ending a run of four consecutive months of deflation, and giving a year-on-year inflation figure of 2.45%, down from 2.75% in August, according to data from the National Statistics Institute (INE).

The INE Consumer Price Index (CPI) released today indicates that Mozambique “registered a price increase of around 0.16%” last month, compared to August, in which the Food and Non-Alcoholic Beverages division stood out, “contributing to the total monthly variation with around 0.09 positive percentage points”.

Previously, the CPI recorded monthly deflations of 0.11% in August, 0.05% in July, 0.21% in June and 0.38% in May.

Year-on-year inflation in September (compared to prices in September 2023) recorded a rate of 2.45%, slowing from 2.75% in August.

“The food and non-alcoholic beverages division saw the biggest price increase, varying by around 5.29%,” the report states.

Year-on-year inflation (over 12 months) was 2.97% in July, 3.04% in June, 3.07% in May, 3.26% in April, 3.03% in March, 4% in February, 4.19% in January and 5.3% in December.

By comparison, in July 2022, year-on-year inflation reached almost 13%.

Mozambique closed 2023 with inflation of 7.1%, according to previous data from the INE, against the official government forecast of 7%.

Source: Lusa