Annual Inflation Fell In November

Annual Inflation Fell In November

Maputo, 15 Dec (AIM) – For the third consecutive month, the annual rate of inflation in Mozambique fell in November, according to the National Statistics Institute (INE).

Annual inflation fell from 12 per cent in September to 11.8 per cent in October, and to 11.25 per cent in November.

Monthly inflation in November was 0.58 per cent, calculated from the consumer price indices of Maputo, seven other cities, and nine price collection centres.

Inflation in the first 11 months of 2022 reached 9.43 per cent, while inflation over the previous year (1 December 2021 to 30 November 2022) was 11.25 per cent.

The most significant price rises in November were for unmilled maize (an average of 7.3 per cent), onions (4.9 per cent), tomatoes (four per cent), groundnuts (3.3 per cent), fresh fish (2.2 per cent), and dried fish (2.1 per cent).

But the average price of several other products fell over the month – notably bananas (down by 6.2 per cent), cabbage (5.1 per cent), fresh eggs (2.6 per cent), vegetable oil (0.8 per cent), butter beans (0.6 per cent), and charcoal (0.5 per cent).

The highest monthly price rises were recorded in Beira (12.78 per cent), Quelimane (11.49 per cent), and Chimoio (11.44 per cent). By far the lowest price rises were in Maputo (7.05 per cent).

Meanwhile, fuel distributors are threatening to increase their prices unilaterally. They insisted that the government should update fuel prices on Thursday, in line with a decree issued by the executive itself which states that fuel prices should be reviewed every third Thursday of the month.

The distributors claim that recurring delays in the publication of the price structure cause them problems because they are uncertain of what will happen to the price. In a letter sent to the government, they say they run the risk of losing their margins as they continue to subsidise fuel prices in the hope of being reimbursed by the Government.

The distributors say they are also worried because, with the non-adjustment of the price coupled with the increase in the government’s debt to them, the distribution of fuel during the festive season will be uncertain.

But Joao Macandja, general manager of the fuel import agency, Imopetro, told Radio Mozambique that normal supplies of fuel are guaranteed over the Christmas and New Year period, and more tankers carrying fuel are scheduled to arrive in Mozambican ports later this month.
(AIM)
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