Consulting firm NKC African Economics on Monday estimated that inflation in Mozambique for the year as a whole will stand at 5.3 percent, above the 3.1 percent recorded in 2020 and in line with the 5.2 percent in the first half of the year.
“Inflation averaged 5.2 percent in the first half of the year, up from 3.2 percent in the same period last year; we anticipate that weak domestic demand will contain inflationary pressures this year,” wrote the analysts of this African branch of British consultancy Oxford Economics.
In the note, sent to clients and to which Lusa had access, the analysts noted that inflation stood at 5.5 percent in July compared to the same month of 2020, a rate equal to that recorded in June and May.
“On a monthly basis, inflation was down 0.2% in July [compared to the previous month], after a decrease of 0.5% in June compared to May, influenced by the index of alcoholic and non-alcoholic beverages,” the analysis reads.
“The factors that will influence inflation in the near term will be rising oil prices and disruptions in supply chains, and we also anticipate that the global oil price will increase significantly this year and should underpin the rise in inflation in the near term,” conclude the analysts, who say they do not anticipate any change in monetary policy this year.
