Monday, May 27, 2024

Inflation in Mozambique rose to 3.26% in April, according to INE data

Mozambique witnessed an increase in year-on-year inflation, reaching 3.26% in April compared to the same period last year, the latest data from the National Statistics Institute (INE) revealed. This slight increase contrasts with the accumulated figures for the 12 months to March.
The Consumer Price Index (CPI) figures, published by Lusa, point to a general price increase of 3.26% over 12 months, compared to April 2023. The education, restaurants, hotels, cafés and similar sectors, as well as food and non-alcoholic drinks, stood out with the biggest price rises, registering variations of 10.53%, 5.63% and 5.28%, respectively.
Year-on-year inflation in March was 3.03%, followed by 4% in February, 4.19% in January and 5.3% in December last year.
The CPI report also highlights a price increase of 0.37% in a single month, compared to 0.03% in March, 0.47% in February, 0.93% in January and 1.29% in December.
“The food and non-alcoholic beverages division was particularly influential in the monthly variation in April, contributing around 0.30 positive percentage points,” the report reveals.
At the close of 2023, Mozambique had year-on-year inflation of 5.30% over 12 months, with an annual average of 7.1%, according to previous INE data, while the government’s official forecast was 7%.

The government announced in February this year that the country would see economic growth of 5% in 2023, compared to 4.4% in 2022, highlighting an economic expansion that exceeded the regional average of the Southern African Development Community (SADC).

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