Mozambique: Inflation in December was 1.49 per cent – AIM

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Mozambique: Inflation in December was 1.49 per cent – AIM

9:43 CAT | 11 Jan 2022

Photo: Noticias

The expected hike in Mozambican prices in December did not materialise, despite the festive season.

According to the National Statistics Institute (INE), citing the consumer price indices for the three largest cities (Maputo, Nampula and Beira), inflation in December was only 1.49 per cent.

The major price rises during the month were for fresh prawns (24 per cent), coconuts (17.9 per cent), live chickens (13.3 per cent), onions (16.8 per cent), tomatoes (10.9 per cent), and fresh fish (2.1 per cent).

The price of a few goods declined – hair gel by 1.6 per cent, refrigerators by 1.1 per cent and motorcycles by 2.2 per cent.

Inflation from January to December was 6.74 per cent, mostly due to rises in food prices. The average 12 monthly inflation over the year was 5.69 per cent.

Price rises varied between the three cities – the highest December inflation, 1.73 per cent, was in Nampula, followed by Maputo (1.48 per cent), and Beira (1.16 per cent).

While the 2021 inflation is within the government’s overall target of less than ten per cent, it is much higher than the inflation of the previous two years – 3.52 per cent in 2020, and 3.5 per cent in 2019.

Source: AIM