15 April 2019

Mozambique: Inflation in March Was 0.67 Per Cent

Maputo — Inflation in Mozambique in March was just 0.67 per cent, according to the latest figures released by the National Statistics Institute (INE), and based on the consumer price indices of the three largest cities (Maputo, Nampula and Beira).

The accumulated inflation for the first three months of the year was 1.63 per cent (0.65 per cent in January, 0.3 per cent in February and now 0.67 per cent in March). Over the past year (1 April 2018 to 31 March 2019), inflation was 3.41 per cent.

This compares with yearly inflation of 21.57 per cent in March 2017. It has declined fairly steadily since then, falling to 5.65 per cent in December 2017 and 3.52 per cent in December 2018.

The largest price rise in March was for electricity, which went up by 21.7 per cent. Most of the other significant rises were for foodstuffs - tomatoes (10.6 per cent), onions (6.5 per cent), cabbage (4.6 per cent), and butter beans (4.4 per cent).

This was the first INE summary of inflation which showed the impact of cyclone Idai, which scored a direct hit on Beira on 14 March. As a result, Beira had by far the highest inflation rate of the three cities in March - 2.87 per cent. The figures for Maputo and Nampula were only 0.18 and 0.17 per cent.

Looking at the entire first quarter, inflation in Beira was 4.13 per cent, 1.26 per cent in Maputo and 0.65 per cent in Nampula.

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