Mozambique records inflation rate of 3.91% in 2018

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Mozambique records inflation rate of 3.91% in 2018

3:07 CAT | 16 Jan 2019

in file CoM

Mozambique ended 2018 with an inflation rate of 3.91 per cent, with accumulated 12-month inflation rising to 3.52 per cent, the National Statistics Institute (INE) said on Tuesday in Maputo.

INE also reported that the Transport expenditure category was mainly responsible for the general trend of price increases in 2018, contributing 1.83 percentage points to the accumulated inflation.

By product, INE highlighted the rise in prices of semi-public urban and suburban passenger transport, gasoline, meals outside the home, diesel, charcoal, wine and second-hand light vehicles, whose impact on total accumulated inflation was estimated at about 2.46 percentage points.

Throughout 2018 there was a trend towards slight price increases, with the exception of the months of June and July, when prices fell marginally by 0.12 per cent and 0.18 per cent, respectively.

Inflation trends were different in the country’s three biggest cities, and it is more expensive to live in Maputo than in other parts of the country, where accumulated inflation reached 4.33 per cent, against 3.76 per cent in Beira and 1.74 per cent in Nampula.

Figures released by INE indicated that accumulated inflation was 5.66 per cent in 2017 and 25.26 per cent in 2016.

Source: Macauhub