MOZAMBIQUE’S INFLATION RATE RISES TO 0.76 PCT IN JUNE

Mozambique’s inflation rate rose to 0.76 per cent in June according to the latest consumer price indices for the country’s three largest cities released by the National Statistics Institute (INE), compared with a rate of minus 0.22 per cent in May.

A large part of the increase was because of the 0.54 per cent increase in the price of food and non-alcoholic drinks.

For some food items, the monthly inflation was substantial. Thus, the price of cooking oil rose by 7.8 per cent, rice by 2.5 per cent, maize by 17.4 per cent, dried fish by 7.4 per cent, garlic by 28 per cent and brown sugar by 6.2 per cent. However, prices of some other foods, such as tomatoes, corn flour, cassava flour, lettuce, and cabbage, fell.

Overall, inflation in the first half of the year stood at 9.28 per cent. Over the last 12 months, inflation was 19.72 per cent. This was dominated by food and non-alcoholic drinks which increased by 34.1 per cent.

Of the three cities, Maputo experienced the largest price rise, of 1.11 per cent, in June. The rise in Nampula was 0.56 per cent, and in Beira it was 0.15 per cent.

Source: Nam News Network