Mozambique: Prices accelerated in December for fourth consecutive month, 2024 inflation closed at 4.15%

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Mozambique: Prices accelerated in December for fourth consecutive month, 2024 inflation closed at 4.15%

1:51 CAT | 15 Jan 2025

File photo: Banco de Moçambique

Prices in Mozambique rose by 1.6% in December, double November’s 0.72%, with inflation in 2024 closing at 4.15%, according to data released yesterday by the National Statistics Institute (INE).

The INE’s Consumer Price Index (CPI) indicates that, as in previous months, food and non-alcoholic beverages stood out, “contributing to the total monthly variation with around 1.16 positive percentage points”.

This is the fourth consecutive monthly increase, after the CPI recording four months of deflation: 0.11% in August, 0.05% in July, 0.21% in June and 0.38% in May.

According to the INE, accumulated inflation for 2024 stood at 4.15%, with the food and non-alcoholic beverages and restaurants, hotels, cafes and similar sectors having “greater prominence”, contributing around 2.72 percentage points and 0.64 percentage points, respectively.

Mozambique closed 2023 with annual inflation of 5.3%, below the peak of almost 13% reached in July, 2022.

Source: Lusa