Data from the National Statistics Institute (INE) indicate that the country recorded inflation of 3% in June, compared to the same month in 2023, but prices deflated by 0.21% when compared to May, the Lusa newsagency reported .
The INE’s Consumer Price Index (CPI) data, released on Wednesday, 11 July, indicates that “Mozambique recorded a rise in the general price level of around 3.04% – slightly below the year-on-year figure of 3.07% seen in May – and that the education, food and non-alcoholic drinks divisions had the biggest rise, varying by 10.57% and 5.15%, respectively”.
Previously, year-on-year inflation was 3.26% in April, 3.03% in March, 4% in February, 4.19% in January and 5.3% in December 2023.
The CPI report adds that the country registered deflation (-0.21%) in June, compared to May, influenced by the fall in prices in the food and non-alcoholic beverages division, which fell by 0.28 percentage points, after the 0.35% increase in the previous month.
Mozambique ended 2023 with inflation of 7.1 per cent, according to previous INE data, while the government’s official forecast was 7 per cent.
The Executive announced in February 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).
