The overall level of prices in Mozambique fell in May, according to the latest figures from the National Statistics Institute (INE).
Inflation gave way to deflation, with an average decline in prices over the month of 0.39 per cent.
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Inflation in the first five months of 2023 was 3.16 per cent. Such a relatively low figure will feed hopes that Mozambican inflation over the entire year will remain at well under ten per cent.
Annual inflation (1 June 2022 to 31 May 2023) was 8.23 per cent. The annual inflation rate is thus declining – from 10.82 per cent in March, to 9.61 per cent in April, and now to 8.23 per cent.
The main falls in average prices in May were for coconuts (down by 14.5 per cent), cabbage (- 9.2 per cent), lettuce (- 7.2 per cent), unmilled maize (- 7.1 per cent), and tomatoes (- 4.5 per cent).
But some products increased in price over the month – including onions (up by12.5 per cent), curtains and screens (23.3 per cent), chairs (2.3 per cent), and mobile phones (2.1 per cent).
For liquid fuels, the picture was mixed. The average price of diesel rose by 4.9 per cent, but that of petrol fell by 1.1 per cent.
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Breaking the figures down by city, the highest annual inflation rate was in Inhambane (11.85 per cent), followed by Tete (10.66 per cent), and Quelimane (10.61 per cent). The lowest rates were in Nampula (5.94 per cent) and Xai-Xai (6.3 per cent).
