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Oxford Economics Predicts Lower Inflation

Oxford Economics Predicts Lower Inflation

Oxford Economics Africa said today that inflation in Mozambique is expected to be 6.5 per cent this year, slowing down from 10.3 per cent in 2022, essentially due to the evolution of oil prices on international markets.

“We now forecast that the average price of a barrel of Brent oil will be 87.6 dollars per barrel in the last quarter of the year, or 1.1 per cent lower than in the last quarter of 2022, which will help the Mozambican government to maintain stability in fuel prices at national level,” wrote the analysts from the African branch of this consultancy, quoted by Lusa.

“As we also believe that the government will maintain the indexation, in practice, of the metical at 63.94 dollars per metical until the end of 2023, we now expect the average inflation rate to slow from 10.3 per cent in 2022 to 6.5 per cent this year,” reads the note sent to clients.

According to INE data, prices in Mozambique have risen by 2.10% since the beginning of 2023 and average monthly inflation over the last 12 months fell in August to 9.32%.

MZNEWS

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