Mozambique: Inflation less than 2% in first quarter

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Mozambique: Inflation less than 2% in first quarter

9:15 CAT | 11 Apr 2018

Notícias (FIle photo)

Inflation in Mozambique in the first quarter of 2018 was less than two per cent, according to the latest figures from the National Statistics Institute (INE).

Based on the consumer price indices for the country’s three largest cities (Maputo, Nampula and Beira), the INE put monthly inflation in Mozambique in March at 0.97 per cent. Inflation in February was 0.36 per cent, and in January 0.41 per cent.

Thus accumulated inflation for the first three months of the year was 1.74 per cent. Yearly inflation (1 April 2017 to 31 March 2018) was 3.05 per cent.

The main price increases registered in March were for urban passenger transport (21.2 per cent), cabbage (8.3 per cent), tomatoes (6.1 per cent), lettuce (5.2 per cent), charcoal (3.8 per cent), diesel (8.3 per cent), and petrol (1.5 per cent).

These rises were partly offset by falls in the prices of coconuts (down by 13.5 per cent), prawns (9.1 per cent), eggs (3.2 per cent), cooking oil (1.4 per cent) and cell phones (2.7 per cent).

Of the three cities, Maputo suffered the sharpest inflation in March, of 1.52 per cent. Prices rose in Beira by 0.56 per cent, and were almost stationary in Nampula (a rise of 0.17 per cent).

As for the yearly inflation, in Maputo it was 4.61 per cent, and in Nampula 2.36 per cent. In Beira prices fell over the year: the city experienced negative inflation of minus 0.37 per cent.

Source: AIM