africa Economy Finance Mozambique

Mozambique inflation jumps to 3.05% y/y in March

Mozambique’s annual consumer price inflation raced to 3.05 percent year-on-year in March from 2.93 percent in February, Mozambique’s national Institute of Statistics, INE, has announced.

INE in a media statement on Wednesday said based on the consumer price indices for the country’s three largest cities of Maputo, Nampula and Beira, inflation was partly offset by falls in the prices of coconuts which dropped by 13.5 per cent, prawns 9.1 per cent, eggs 3.2 per cent, cooking oil 1.4 per cent and cell phones 2.7 per cent.

“The main price increases registered in March were for urban passenger transport which rose by 21.2 per cent, cabbage 8.3 per cent, tomatoes 6.1 per cent, lettuce 5.2 per cent, charcoal 3.8 per cent, diesel 8.3 per cent, and petrol 1.5 per cent”, read INE’s media statement.

Of the three cities, Maputo suffered the sharpest inflation in March, with a rise of 1.52 per cent.

INE added that prices rose in Beira by 0.56 per cent, and were almost stationary in Nampula, where there was a rise of 0.17 per cent.

Source: Journal du Cameroun

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