Mozambique Inflation Rate Slows to 4-Month Low in August

Mozambique’s annual inflation rate decelerated for a third consecutive month to 6.31% in September 2026, compared to August's 6.45%, marking its lowest level since April. Slower price growth was particularly seen for food & non-alcoholic beverages (8.69% vs 8.91%); alcoholic beverages & tobacco (3.73% vs 4.33%); recreation & culture (3.65% vs 4.86%) and miscellaneous goods & services (2.43% vs 3.48%). On a monthly basis, the CPI went up by 0.16%, after a 0.28% decrease in the month before. Among the products recording the largest price increases were onions (11.4%), corn kernels (10.4%), second-hand light motor vehicles (3.9%), and hamburgers, steaks, pork sandwiches and similar products (2.5%). Smaller increases were recorded for mackerel and beer consumed outside the home (both 0.8%), and cement (0.5%).

The annual inflation rate in Mozambique eased for the second month to 6.45% in August 2026, marking the lowest since April. Price growth softened for some CPI items, including food & non-alcoholic beverages (8.91% vs 12.62% in July); clothing & footwear (4.18% vs 4.81%); restaurants & hotels (3.98% vs 4.22%) and miscellaneous goods & services (3.48% vs 3.57%). Transportation prices also rose at a slower pace, easing to 14.77% from 14.87%, but remained elevated overall. On a monthly basis, the CPI fell by 0.28% in August, after a 0.26% decrease in the prior month. Food (-1.1%) exerted the strongest downward pressure, mainly reflecting declines in prices of tomatoes (-16.3%), lettuce (-9.8%), and cabbage (-6.7%), onions (-2.8%) and butter beans (-1.6%).

Mozambique’s annual inflation rate edged down to 7.48% in July 2026 from 7.51% in June. The slowdown was mainly driven by softer food inflation, which fell to 12.62% from 13.35%, alongside easing price growth for recreation, sports and culture (4.69% vs 4.76%), restaurants and hotels (4.22% vs 4.44%) and alcoholic beverages and tobacco (4.11% vs 4.68%). In contrast, transport inflation accelerated to 14.87% from 13.85%, while inflation also increased for clothing and footwear (4.81% vs 4.62%), furnishings (1.44% vs 1.19%) and communications (0.35% vs 0.18%). Housing and utilities inflation was broadly stable at 4.44%. On a monthly basis, consumer prices fell 0.26%, reversing a 0.2% increase in June.