Maputo, 13 Jul (AIM) – The average level of prices in Mozambique fell by 0.58 per cent in June, according to the latest figures from the National Statistics Institute (INE).
This was the second consecutive month of deflation, rather than inflation.
The accumulated inflation in the first six months of the year was 2.57 per cent. This relatively low inflation will raise hopes that inflation by the end of the year will be much less than ten per cent, pehaps less than five per cent.
The main contributors to inflation in the first six months of the year were foodstuffs, transport, and hotels, restaurants and similar enterprises.
Goods which fell sharply in price in June included cabbage (down by 12.9 per cent), lettuce (11.9 per cent), tomatoes (8.1 per cent), coconuts (5.3 per cent), and dried fish (2.3 per cent).
However, some key products increased in price during the month, including fixed and mobile telecommunications (up by 10.3 per cent), firewood (8.4 per cent), onions (4.2 per cent), and diesel (2.6 per cent).
Inflation over the past year (1 July 2022 to 30 June 2023) was 6.81 per cent – the lowest annual inflation rate so far this year.
Prices in June fell in all the urban centres where the INE collects its statistics. The sharpest price falls were in Inhambane (down by 1.66 per cent), Quelimane (1.24 per cent), Chimoio (0.71 per cent), and Maputo (0.42 per cent).
(AIM)
Pf/ (242)
