No budget support from European Union
Inflation in the first two months of this year, has remained relatively low, at less than one 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 February at 0.36 per cent.
The main price increases registered in the month were for fresh prawns (13.7 per cent), lettuce and cabbage (each 8.3 per cent), onions (5.2 per cent), charcoal (4.9 per cent), tomatoes (3.8 per cent), and second hand cars (1.5 per cent).
Inflation for January and February taken together was 0.76 per cent. Yearly inflation (from 1 March 2017 to 28 February 2018) was 2.93 per cent. Since a year ago the annual inflation rate was 20.88 per cent, the figures clearly show that the Bank of Mozambique’s anti-inflationary strategy is working.
There were slight differences between the three cities in February. Beira had the highest inflation, of 0.66 per cent, which in both Maputo and Nampula prices rose by 0.28 per cent.
As for the yearly inflation, in Maputo it was 4.67 per cent, and in Nampula only 1.51 per cent. In Beira prices in February 2018 were much the same as they had been in March 2017 – the city had barely measurable annual inflation of 0.04 per cent.Source: AIM