Mozambique: January inflation increased 2.48%, on top of December’s 4.76% price hike – INE

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Mozambique: January inflation increased 2.48%, on top of December’s 4.76% price hike – INE

11:59 CAT | 10 Feb 2016

In file Club of Mozambique.

Inflation in Mozambique in January, as measured by the consumer price indices of the three largest cities (Maputo, Nampula and Beira) was 2.48 per cent, the National Statistics Institute (INE) announced on Tuesday.

This is considerably less than the December rate of 4.76 per cent, but it is still a high rate for a single month, and clearly compromises the government’s target for an inflation rate for all of 2016 of no more than 5.6 per cent.

Inflation over the past 12 months was 11.25 per cent – up from 10.55 per cent in December.

Most of the price increases in January were for foodstuffs. The main increases noted were for maize (13.2 per cent), cowpeas (22.5 per cent), rice (13 per cent), tomatoes (11.5 per cent), coconuts (10.2 per cent), maize flour (6.7 per cent) and onions (5.7 per cent).

Other items in the package of goods and services used to calculate the consumer price index also rose in price, but very slightly – for example, transport by 0.03 per cent, health by 0.04 per cent, education by 0.11 per cent, and clothing and footwear by 0.18 per cent.

Inflation varied between the three cities. Beira saw the sharpest rise in prices of 3.53 per cent, followed by Nampula (2.83 per cent), and Maputo (1.97 per cent).

Source: AIM