The National Statistics Institute (INE) revealed on Thursday 11 January that prices in Mozambique will rise by 5.30% in 2023. The food and non-alcoholic drinks sector saw the biggest rise in prices, contributing 3.34 percentage points.
“When analysing the accumulated variation by product, it is important to highlight the rise in prices of dried fish, maize grain, tomatoes, complete restaurant meals, nhemba beans, fresh fish and beers for consumption away from home. These accounted for a total of 2.51 positive percentage points,” said INE in a press release.
With regard to the monthly variation, the organisation said that prices in the country rose by an average of 1.29% in December, accelerating from the 1.17% increase seen in November.
Last year, the Minister of Economy and Finance, Max Tonela, stated that the Mozambican economy would have grown by the equivalent of 5% of GDP in 2023 and that it could reach 5.5% in 2024, with inflation expected to stand at 7%.
