Mozambique records sixth-lowest inflation rate in the SADC

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Mozambique records sixth-lowest inflation rate in the SADC

9:14 CAT | 02 Jul 2019

Map: sadc.int

Mozambique has recorded the sixth lowest inflation rate among all 15 SADC member countries, with 3.3 percent inflation at the start of the second quarter of this year (April).

The SADC Harmonised Commodity Price Index (HCPI) indicates that Mozambique is behind Tanzania (3.2 per cent), Botswana (3.1 per cent), Eswatini (2 per cent), Seychelles (1.9 per cent) and Mauritius (0.1 percent negative).

According to the HCPI, quoted by ‘O País’, “brother country” Angola and neighbouring Zimbabwe were the two most expensive countries in the region, with their inflation index registering double-digit rates of 16.5 and 71.3 percent respectively.

SADC’s average inflation stood at 7.9 percent at the beginning of the second quarter (April), with most member states reporting rates below this regional average, with the exception of Angola and Zimbabwe. Malawi’s inflation rate equalled the regional average.

In its 92nd edition, HCPI reports that most countries in the Southern African Development Community recorded increases in the monthly inflation rate in April 2019, with the exception of Mauritius (unchanged), while Malawi recorded a significant slowdown of 3.9 percent. The largest increase – 6 percent – was posted by Zimbabwe.

In terms of annual inflation on products, five sectors reported annual inflation below the regional average in April 2019. These include communication (0.5 per cent), education (5 per cent), food and non-alcoholic beverages (6.8 percent), transportation (7.3 percent) and hotels and catering (7.4 percent).

In monthly terms, between March and April all sectors registered an acceleration in the cost of living index. The largest increase was recorded in the transport sector (1.7 percent), followed by alcoholic beverages and tobacco (0.9 percent).

Source: AIM Moçambique