Year-on-year inflation in Mozambique was 12.1% in August, the highest value in the last four years and eleven months announced by the National Institute of Statistics (INE).
According to the new Consumer Price Index (CPI) bulletin, annual inflation was 11.77% and rose 33 basis points in August (still slower than the 96 basis points from June to July), according to the new Consumer Price Index (CPI) bulletin.
You have to go back to August 2017 to find a higher number: At that time, inflation was 14.13% due to the shock caused by the hidden debt.
The increase since the beginning of the year is in line with the global inflation climate caused by the war in Ukraine and rising fuel prices.
Food, non-alcoholic beverages, and transport were again the most significant contributors to price increases in Mozambique.
CPI figures are calculated by INE using price fluctuations of a basket of goods and services, with data collected in Maputo, Beira, and Nampula cities.
Cumulative year-to-date inflation in Mozambique for 2022 now stands at 7.62 percent.