Prices keep falling: Data from National Statistics Institute of Mozambique

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Prices keep falling: Data from National Statistics Institute of Mozambique

11:58 CAT | 11 Jul 2017

Lusa (File photo)

Inflation in Mozambique fell 1.20 percent in June, with accumulated inflation at 3.82 percent and annual inflation at 18.10 percent.

Data collected in the cities of Maputo, Beira and Nampula by the National Statistical Institute (INE) indicate that the country registered a 1.20 percent drop in the general price level in relation to the previous month.

Food and non-alcoholic beverages had the greatest impact, falling 0.83 percentage points.

INE figures show that price of light vehicles fell 12.6 percent, tomatoes 17.8 percent, charcoal 10.5 percent, peanuts 17.0 percent, cooking oil 5.9 percent, gasoline 1.5 percent and kale 16.0 percent. Combined, these products brought total monthly inflation down by 1.27 percentage points.

However, the increase in the prices of some products, especially food in restaurants (2.5 percent), fresh or frozen fish (4.7 percent), mobile phones (7.2 percent), ‘capulanas’ (2.5 percent), and men’s shoes (7.9 percent) upped prices 0.42 percentage points.

The INE also notes that in the first half of the year the country registered an increase in the general price level of around 3.82 percent. The hospitality sector was mainly responsible, contributing approximately 0.79 percentage points.

Increases in price of wheat bread, charcoal, restaurants, gasoline, horse mackerel, beer and fresh and frozen fish contributed 2.68 percentage points to the accumulated inflation total.

Source: Notícias