Mozambique: Inflation Almost Negligible in September

Maputo — Prices remained virtually stationary in the main Mozambican cities in September, according to the latest figures on inflation from the National Statistics Institute (INE).

Based on the consumer price indices for the three largest cities (Maputo, Nampula and Beira), the INE puts the inflation rate for September at just 0.1 per cent.

The main price rises in September were for groundnuts (7.3 per cent), dried fish (2.6 per cent), wine (3.4 per cent), butter beans (2.1 per cent), and printed fabrics (1.1 per cent).

The prices of various other goods declined over the month. The main price reductions were for tomatoes (6.8 per cent), onions (3.4 per cent), coconuts (4.1 per cent), lettuce (3.8 per cent) and diesel (1.1 per cent).

Inflation from January to September was only 1.28 per cent. Prices rose slightly between January and April, and then fell for the three month period from May to July. As from August the trend has been one of a slight overall price increase. On current trends, by the end of the year the inflation rate for all of 2019 could be less than two per cent.

Inflation for the entire previous year (1 October 2018 to 30 September 2019) was 2.01 per cent. This is a startling victory for the anti-inflationary policies of the Bank of Mozambique. In March 2017, annual inflation had been running at over 21.5 per cent.

The September inflation rate varied between the three cities. The monthly inflation rate was highest in Nampula at 0.3 per cent, following by Maputo on 0.11 per cent. In Beira, prices fell and so inflation was minus 0.25 per cent.

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