Year-on-year inflation in the country increased in December 2024 to 1.60 per cent, up from 1.29 per cent in the same period in 2023, according to a report by the National Statistics Institute (INE), consulted this Monday (13) by Diário Económico. According to the document, all the cities analysed saw price increases, with Nampula (1.95%) and Maputo (1.82%) leading the way. Monthly inflation, compared to November 2024, also registered an increase, driven above all by the rise in the prices of food products and non-alcoholic drinks.
The food and non-alcoholic drinks division had a significant impact on the year-on-year change, contributing 1.16 percentage points to the overall index. Among the products that put the most pressure on prices were tomatoes (21.4 per cent), beer for consumption away from home (10.3 per cent), horse mackerel (7.5 per cent), fresh fish (5.8 per cent), wheat bread (5.0 per cent), cooking oil (4.2 per cent) and dried fish (3.4 per cent).
Despite the generalised rise, some products saw a reduction in prices, helping to contain the rise in inflation. Lemons (-8.9 per cent), blankets (-1.1 per cent), children’s shoes (-0.7 per cent) and children’s skirts (-2.9 per cent) were among the goods that fell, contributing a negative 0.01 percentage points to the year-on-year change.
In addition to the rise in year-on-year inflation in December, INE data shows that accumulated inflation for 2024 slowed to 4.15 per cent, down from 5.30 per cent in 2023. This slowdown was influenced by lower price pressure throughout the year, especially in some categories of goods and services.
The analysis by city shows that Quelimane recorded the highest accumulated inflation in 2024, at 4.98%, followed by Xai-Xai (4.42%), Beira (4.33%) and Nampula (4.32%). Maputo had accumulated inflation of 3.85 per cent, while Inhambane province recorded the lowest annual variation, with 3.26 per cent.
Average inflation over the last 12 months stood at 3.20 per cent, with the education (7.77 per cent) and food and non-alcoholic beverages (6.20 per cent) sectors recording the biggest increases over the year.
With the start of 2025, expectations turn to the evolution of prices in the coming months, which will depend on factors such as agricultural production, exchange rate variations, the economic climate and international price fluctuations.