Mozambique: Low inflation in August – AIM report

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Mozambique: Low inflation in August – AIM report

9:48 CAT | 16 Sep 2019

in file CoM

The rate of inflation in Mozambique in August was 0.11 per cent, according to the latest figures from the National Statistics Institute (INE), drawn from the consumer price indices for the three largest cities (Maputo, Nampula and Beira).

The August figure marks the end of a three month period of deflation. The average price levels fell by 0.31 per cent in May, 0.23 per cent in June, and 0.31 per cent in July.

The main price rises in August were for sweet potato (11.2 per cent), butter beans (3.6 per cent), dried fish (3.5 per cent), fresh fish (1.8 per cent), restaurant meals (1.1 per cent), and bread (0.5 per cent).

On the other hand, the prices of several other goods fell. The main price reductions were for onions (12.6 per cent), tomatoes (5.9 per cent), lettuce (4.8 per cent), cabbage (2.9 per cent), brown sugar (2.8 per cent), beef (1.8 per cent), and petrol (0.3 per cent).

Inflation from January to August was only 1.18 per cent. As the festive season approaches, towards the end of the year, the rate of inflation is bound to increase, but on current trends inflation for the entire year is likely to be well below five per cent.

The August inflation varied between the three cities. In Nampula, prices rose by 0.65 per cent, and in Beira by 0.21 per cent. But deflation continued in Maputo, where prices fell over the month by 0.19 per cent.

Source: AIM