The National Statistics Institute (INE) reported that inflation in Mozambique was 4% in February, down from 4.19% in January. This is the second consecutive drop in monthly inflation, with prices rising by around 0.47% compared to 0.93% in January and 1.29% in December.
According to INE’s Consumer Price Index (CPI) report, the Education and Food and Non-Alcoholic Beverages divisions recorded the biggest price rises, with variations of 8.61% and 6.89% respectively.
The government recently announced that the country would have economic growth of 5% in 2023, compared to 4.4% in 2022, surpassing the regional average of the Southern African Development Community (SADC).
Economic growth has been driven by the Extractive Industrie, Tourism, Agriculture, Transport and Communications, among other sectors, as a result of policies and reforms implemented to boost private sector economic activities and attract investment.
