MOZAMBIQUE RECORDS DEFLATION IN JULY

MAPUTO, The National Statistics Institute (INE) has reported that Mozambique recorded a negative inflation of 0.5 per cent in July, compared with the preceding month, as measured by the Consumer Price Indices for the three largest cities of Maputo, Nampula and Beira.

According to the INE, annual inflation stood at 3.31 per cent and at 16.17 per cent year-on-year.

Data collected in the cities of Maputo, Beira and Nampula in July indicate that overall prices fell -0.50 per cent compared with June. Food and non-alcoholic beverages registered the largest drop in prices, at 0.59 per cent.

During the moth, there was a drop in the price of tomatoes (13.4 per cent), peanuts (9.9 per cent), second-hand cars (2.8 per cent), fish (1.8 per cent), cooking gas (14.2 per cent), cooking oil (2.7 per cent) and lettuce (11.0 per cent). These products contributed to the total monthly inflation with negative 0.53 per cent.

From January to July, inflation rose to 3.31 per cent, accounted for mainly by restaurants, hotels and cafes division at 0.79 per cent.

Disaggregating annual inflation by product it is possible to see an increase of the prices of gasoline, wheat bread, charcoal, meals in restaurants, beer, higher education and public transport, which contributed with positive 2.87pp for the total annual inflation.

Source: NAM NEWS NETWORK