Year-on-year inflation in Mozambique was 11.77% in July, the highest value in the last four years and 10 months, announced the National Statistics Institute (INE).

Year-on-year inflation in June it had been 10.81% and rose 96 basis points in July (albeit at a slower pace than the 150 basis points from May to June), according to the new Consumer Price Index (CPI) bulletin.

You have to go back to August 2017 to find a higher value: at the time when inflation was 14.13%as a result of the scare caused by the hidden debts.

The increase seen since the beginning of the year is in line with the global inflationary climate caused by the war in Ukraine and the increase in fuel prices.

A food, beverage and transport divisions were once again the main contributors to price increases in Mozambique.

The CPI values ​​are calculated by the INE from the price variations of a basket of goods and services, with data collected in the cities of Maputo, Beira and Nampula.

In accumulated terms, since the beginning of the year, the 2022 inflation in Mozambique stands at 7.10%.

Mozambican economy grows 4.37% in the first semester

The Mozambican economy grew by 4.37% in the first half of the year, announced the National Statistics Institute (INE) in its latest national accounts bulletin.

The growth rate of the Gross Domestic Product (GDP) was 4.14% in the first quarter from 2022 and then went up to 4.59% in the second quarter (April to June), the document reads.

The basis of comparison is made with the same periods of 2021 in which the economy was most affected by the effects of the covid-19 pandemic.

The Mozambican economy grew by 2.16% in 2021 and for 2022 the Government has set a GDP growth target of 2.9% foreseen in the Economic and Social Plan and the State Budget approved by parliament.