Mozambique Tames Inflation

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The accumulated inflation for the first three months of the year was 2.03 per cent, accounted for mainly by rising food prices.

The average level of prices in Mozambique’s urban areas rose by only 0.06 per cent in March, according to the latest figures published by the National Statistics Institute (INE). This brought the annual rate of inflation (1 January to 31 March) to 4.77 per cent.

This compares with an annual inflation rate of 4.69 per cent in January and 4.74 per cent in February. Inflation thus fell sharply in March. The accumulated inflation for the first three months of the year was 2.03 per cent, accounted for mainly by rising food prices.

Among the goods with the most significant price rises in March were tomatoes (7.2 per cent), cabbage (7.1 per cent), spaghetti (2.1 per cent), butter beans (1.8 per cent), and fruit juice (1.7 per cent).

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In some cases, prices declined over the month, notably diesel (down by 3.4 per cent), petrol (0.4 per cent), coconuts (7.9 per cent), unmilled maize (3.4 per cent), and cement (0.7 per cent).