7 December 2012

Mozambique: Inflation of One Per Cent in November

Maputo — Inflation in Mozambique was 1.06 per cent in November, as measured by the consumer price indices in three largest cities, Maputo, Beira and Nampula.

According to the figures, released on Friday by the National Statistics Institute (INE), in Maputo prices rose in November by 1.43 per cent, in Beira by 0.57 per cent and in Nampula by 0.72 percent.

The major price rises were for tomatoes (21.6 per cent), urban passenger transport (11.2 per cent), lettuce (8.9 per cent), potatoes (seven per cent), onions (6.4 per cent) and cassava flour (5.5 per cent).

The rise in the price of passenger transport was largely due to the increase in the flat rate fares charged by privately owned minibuses in Maputo and the neighbouring city of Matola that took effect on 15 November.

The municipal authorities of the two cities authorised an increase in the fare for distances of up to ten kilometres from five to seven meticais (from 17 to 24 US cents), an increase of 40 per cent.

For journeys longer than this, the fare rose from 7.5 to nine meticais, which is a 20 per cent rise.

Taking the year as a whole, the accumulated inflation now stands at 0.94 per cent. The figure is low because for much of the year Mozambique experienced, not inflation, but deflation.

In five of the eleven months of this year inflation has been negative. The figures were: January 0.64 per cent, February minus 0.24 per cent, March 0.21 per cent, April minus 0.24 per cent, May minus 0.53 per cent, June minus 0.34 per cent, July 0.03 per cent, August minus 0.02 per cent, September 0.06 per cent, October 0.33 per cent, and November 1.06 per cent.

This remains the lowest inflation Mozambique has recorded since the introduction of structural adjustment measures in 1987.

Inflation from January to November in 2010 was 13.22 per cent, and for the same period in 2011 it was 4.7 per cent.

Yearly inflation – from 1 December 2011 to 30 November 2012 – was 2.33 per cent. Yearly inflation at the end of November 2011 was 8.6 per cent, and at the end of November 2010 it was 15.56 per cent.

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