Mozambique inflation eases to 13-month low

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Mozambique inflation eases to 13-month low

5:42 CAT | 14 Jun 2023

File photo: Lusa

Year-on-year inflation in Mozambique slowed again in May to its lowest value in 13 months, the National Institute of Statistics (INE) announced yesterday.

Inflation stood at 8.23% during the month of May, 1.38 percentage points less than in April.

This was the second consecutive month showing a deceleration in price increases.

The drop in the price of gasoline contributed to the trend, along with reductions in the price of foodstuffs such as tomatoes, coconuts, maize, kale and cabbage, the INE details in the Consumer Price Index (IPC) bulletin.

Adding up the monthly inflation numbers, the first five months of 2023 ended with accumulated inflation of 3.16% since the start of the year.

The Consumer Price Index bulletin collects data for calculating inflation in eight Mozambican cities: Maputo, Beira, Nampula, Quelimane, Tete, Chimoio, Xai-Xai and Inhambane.

Source: Lusa