Mozambique: Inflation at four-year high

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Mozambique: Inflation at four-year high

8:47 CAT | 11 May 2022

Photo: Lusa

Year-on-year inflation in Mozambique in April was 7.9%, the highest rate in the last four and a half years, the country’s National Statistics Institute (INE) announced on Tuesday.

Year-on-year inflation in March was 6.67% and rose 123 basis points in April, according to the new Consumer Price Index (CPI) bulletin.

The rise is in line with all forecasts for the Mozambican economy and the global inflationary climate.

In monthly terms, accumulated inflation since the beginning of the year stands at 4.51%, a figure only surpassed in April 2017.

Even so, Standard Bank (which presented the latest forecasts on Thursday) expects inflation to remain in single digits this year in Mozambique and predicts a drop in the following years, with rates of 9.4% (2022), 7.3% (2023), 6.5% (2024) and 5.9% (2025).

The CPI figures are calculated by INE from the price changes of a basket of goods and services, with data collected in Maputo, Beira and Nampula.

Source: Lusa