Mozambique Inflation Rate Eased Slightly in June
Mozambican annual consumer inflation slowed to 2.75 percent in June of 2014 from 2.91 percent recorded in the previous month. A year earlier the annual inflation rate was 4.86 percent.
Upward inflationary pressures came mostly from higher prices of education (5.85 percent) and food.
On a month-over-month basis, the inflation fell further to 0.52 percent in June of 2014, from a 0.38 percent decline in the previous month, mostly driven by lower food cost. In particular, prices dropped for tomatoes (-17.2 percent), dry fish (-4 percent), coconut (-5.5 percent), onion (-5.4 percent), cabbage (-10.5 percent) and lettuce (-8.1 percent). Prices of household equipment and routine household maintenance also declined 2.3 percent.
On a yearly basis, prices increased in Maputo (2.46 percent), Beira (2.39 percent), and Nampula (3.40 percent). The highest month-over-month price decline was registered for Maputo city (-1.33 percent), followed by Beira (-0.48 percent). On the other hand, Nampula recorded a 0.48 percent increase in consumer prices.
7/10/2014 5:28:11 PM