The annual inflation rate in Mozambique ticked up to 3.78 percent in January 2019 from 3.52 percent in the previous month. Prices rose faster mainly for transport (10.93% vs 10.45% in December); restaurants & hotels (5.76% vs 5.60%) and food & non-alcoholic beverages (1.07% vs 0.17%). On the other hand, inflation slowed for housing & utilities (3.07% vs 3.31%); clothing & footwear (3.79% vs 4.10%); education (3.42% vs 4.76%); miscellaneous goods & services (3.17% vs 3.50%); recreation & culture (1.72% vs 2.95%) and alcoholic beverages & tobacco (0.6% vs 0.9%). Also, cost fell for communications (-1.08% vs 0.14). On a monthly basis, consumer prices inched up 0.65 percent, after increasing 0.37 percent in the previous month. Main upward pressure came from cost of food & non-alcoholic beverages (1.8% vs 1.3%), of which tomato (20.2%), coconut (12.5%) and lettuce (15.2%). Inflation Rate in Mozambique averaged 8.08 percent from 2009 until 2019, reaching an all time high of 26.35 percent in November of 2016 and a record low of 1.05 percent in November of 2009.
Inflation Rate in Mozambique is expected to be 3.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Mozambique to stand at 2.10 in 12 months time. In the long-term, the Mozambique Inflation Rate is projected to trend around 4.00 percent in 2020, according to our econometric models.