MOZAMBIQUE RECORDS 2.24 PCT INFLATION IN FEBRUARY

Inflation in Mozambique in February, as measured by the consumer price indices in the three largest cities OF Maputo, Nampula and Beira, was 2.24 per cent, the National Statistics Institute (INE) says.

The monthly inflation rate was almost entirely caused by rises in food prices. The most significant price increases were for brown sugar (18 per cent), maize flour (11.7 per cent), fresh or frozen fish (6.3 per cent), tomatoes (5.9 per cent), cowpeas (25.3 per cent), lettuce (28.2 per cent), and rice (2.1 per cent).

In the first two months of the year, prices have risen by 4.95 per cent, again overwhelmingly because of increases in food prices.

In the two month period, food and non-alcoholic drinks rose in price by 4.1 per cent, clothing and footwear by 0.21 per cent, furniture by 0.19 per cent, and education costs by 0.16 per cent.

No other items in the basket of goods and services on which the consumer price index is based rose by as much as 0.1 per cent.

Inflation over the past year was 12.18 per cent, while the average 12-monthly inflation rate over the year was 4.99 per cent.

The February inflation rate was lower than that for January at 2.65 per cent, and for December 2015 at 4.76 per cent.

Source: AIM