Communication - Presse
YoY inflation continues to hit highs, reaches 10.81% in June
Year-on-year inflation in Mozambique stood at 10.81% in June, the highest value in the last four years and nine months, the National Statistics Institute (INE) has announced.
Year-on-year inflation in May had been 9.31% and rose 150 basis points in June, according to INE’s most recent Consumer Price Index (CPI) bulletin.
It is necessary to go back to August 2017 to find a higher value: at the time, inflation was 14.13%, in the aftermath of the shock caused by the ‘hidden debts’ scandal.
The increase seen since the beginning of the year is in line with all forecasts and with the global inflationary climate caused by the war in Ukraine and the increase in fuel prices.
The food, non-alcoholic beverages and transport categories contributed the most to the increase in prices in Mozambique.
Consumer Price Index (CPI) values are calculated by INE from the price of a basket of goods and services, with data collected in the cities of Maputo, Beira and Nampula.
In cumulative terms, since the beginning of 2022, inflation in Mozambique is now at 6.44%.
Usually there is a decline in prices and even some deflation between May and July, due to the harvest period and abundance in the markets, but this year the monthly relief was minimal: monthly inflation in May was 1%, and in June 0.83%.
