Mozambique Inflation Rate Slows to Over 1-Year Low

The annual inflation rate in Mozambique fell slightly to 3.04% in January 2026, the lowest since November 2024, from 3.23% in December, marking the fourth consecutive month of slowing price growth. Prices slowed down for some CPI items, notably food & non-alcoholic beverages (5.72% vs 6.64% in December); alcoholic beverages & tobacco (2.68% vs 3.51%); furnishings & household equipment (1.32% vs 3.27%) and health (2.72% vs 3.44%). Additionally, transportation costs continued to decrease (-1.72% vs -1.60%). On a monthly basis, the CPI rose by 1.26% in January, after a 0.49% increase in the prior month.

The annual inflation rate in Mozambique eased for the second month to 4.38% in November 2025, the softest in four months, down from 4.83% in October. Prices slowed down mostly for food & non-alcoholic beverages (9.52% vs 11.52% in October); health (2.59% vs 4.89%); furnishings & household equipment (3.62% vs 3.94%); and recreation & culture (4.34% vs 4.72%). Moreover, prices continued to decrease for transportation (-1.59% vs -1.70%). On a monthly basis, the CPI rose by 0.29% in November, slowing from a 0.47% increase in the prior month.

The annual inflation rate in Mozambique was at 4.83% in October 2025, easing slightly from a near two-year high of 4.93% in the prior month. Prices slowed a bit for some categories, primarily food & non-alcoholic beverages (10.41% vs 10.85% in September) and restaurants & hotels (7.29% vs 9.01%), reflecting the impact of the VAT exemption on basic products such as sugar and cooking oil. On a monthly basis, consumer prices inched up by 0.47%, after a 0.29% increase in the prior month. The food and non-alcoholic beverages division contributed the most to the rise, with tomato (+12%), dried fish (+3%), dried shrimp (+16.8%), horse mackerel (+1%), firewood (+7.6%), and lemon (+48.1%) leading the increases.