Price falls recorded in May – Mozambique Stats Office

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Price falls recorded in May – Mozambique Stats Office

5:17 CAT | 07 Jun 2016

Data collected by the National Statistics Institute (INE) in Maputo, Beira and Nampula cities in May, indicate a drop in the general price level of around 0.22 percent over the previous month, a slowdown in monthly inflation of 2.45 percentage points.

The INE report indicates that the power and non-alcoholic beverages sectors recorded price decreases of 0.91 percent, contributing 0.46pp negative in general downward trend in prices.

“Monthly inflation by product shows decreases in the price of tomatoes (7.6 percent), coconut (9.0 percent), lettuce (17.5 percent), the cowpea (nhemba bean) (9.6 percent ), corn (8.7 percent), cabbage (7.0 percent) and cassava flour (3.3 percent). The contribution of these products in the monthly inflation was approximately 0.82 percentage points negative,” the report reads.

It should be noted, however, that the price behaviour of some products, especially rice, garlic, fresh, chilled or frozen fish, cornmeal, opposed the general trend of falling prices, their rise contributing about 0.25 positive percentage points.

The INE says the country registered inflation of 8.47 percent from January to May this year. The sectors of power and non-alcoholic beverages dictated the trend of this period, contributing to the accumulated inflation total with about 6.81 percentage points positive.

“Corn flour, rice, onion, tomato, cassava flour, nhemba beans and butter beans were the products that influenced the level of inflation most. Their contribution to the total accumulated inflation stood at 5.32 percentage points positive”, reads the statement.

Also according to INE, the data from May this year compared to the same 2015 period show that the country recorded a price increase of around 18.27 percent. The power and non-alcoholic beverages sectors had the largest increase of prices of about 31.91 percent and their share in the total annual inflation was 14.39 percentage points positive.

In the analysis of inflation by city, the INE notes that Maputo had a monthly inflation below average (minus 0.33 percent) and the cities of Beira and Nampula were above average with 0.16 percent and 0.09 percent respectively.

In terms of the share of each city in the recorded monthly inflation for the country (down 0.22 percent), the city of Maputo was the one that most influenced this trend, contributing about 0.17pp negative, the cities of Nampula and Beira had a share of 0.03 and 0.02 percentage points negative respectively.

All three cities registered price increases from January to May 1. The city of Beira leads with 11.76 percent, followed by Nampula City with 10.78 percent, and Maputo with 5.89 percent.

In annual terms, the cities of Beira, Nampula and Maputo registered price escalation in the order of 23.62 percent, 19.11 percent and 16.00 percent respectively.

Source: Notícias