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Inflation in Mozambique Rises to Highest in Four and a Half Years

Inflation in Mozambique Rises to Highest in Four and a Half Years

Year-on-year inflation in Mozambique in April was 7.9%, the highest in the last four and a half years, the country’s National Statistics Institute (INE) announced.

Year-on-year inflation in March had been 6.67% and rose 123 basis points in April, according to the new Consumer Price Index (CPI) bulletin.

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The rise is in line with all forecasts for the Mozambican economy and the global inflationary climate.

In monthly terms, accumulated inflation since the beginning of the year stands at 4.51%, a figure only surpassed in April 2017.

Still, Standard Bank (which presented its latest forecasts on Thursday) predicts that inflation will remain at single digits (below 10%) this year in Mozambique and foresees a retreat in the following years, with rates of 9.4% (2022), 7.3% (2023), 6.5% (2024) and 5.9% (2025).

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The CPI figures are calculated by INE from the price variations of a basket of goods and services, with data collected in the cities of Maputo, Beira and Nampula.

Translated with www.DeepL.com/Translator (free version)

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