According to data released this Thursday by the National Statistical Institute (INE), Mozambique recorded aggregate inflation of 5.30% in 2023, increasing by a further 1.29% in December compared to November.
INE data shows that Mozambique “recorded an increase in the overall price level of approximately 5.30%” in the 12 months from January to December.
“The food and non-alcoholic beverages division showed the largest price growth, contributing 3.34 positive percentage points,” INE describes in the Consumer Price Index (IPC).
He adds that when analyzing the accumulated differences by product, “it is important to note the increase in prices for dried fish, corn, tomatoes, set meals in restaurants, cowpeas, fresh fish and beer for consumption outside the home.”
“This contributed approximately 2.51 positive percentage points to the total accumulated variance,” according to INE data.
In terms of the 12-month average change, the indicator says Mozambique “recorded a price increase of approximately 7.13%.”
“The most prominent divisions were Education, Miscellaneous Goods and Services, and Food and Non-Alcoholic Drinks, which varied by about 11.27%, 10.50% and 10.03% respectively,” we read.
On a monthly basis, prices in Mozambique rose by an average of 1.29% in December, according to INE, accelerating from a 1.17% increase in November.
Mozambican Economy and Finance Minister Max Tonela said in December that Mozambique’s economy would grow by the equivalent of 5% of GDP in 2023 and could reach 5.5% in 2024. Inflation, according to government forecasts, should be 7% in 2023 and repeat the same value in 2024.
Author: Lusa
Source: CM Jornal
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