Mozambican inflation rate totals 9.37 percent in 2006

8 January 2007

Maputo, Mozambique, 8 Jan – The Mozambican rate of inflation, measured by the Maputo Consumer Price Index, totaled 9.37 percent in 2006, according to Valeriano Levene from Mozambique’s National Statistics Institute (INE).

According to Mozambican news agency AIM, on announcing the end of year figures, Levene said that in December alone inflation had been 2.07 percent, due entirely to increased prices of food and drink.

Government forecasts for 2006 inflation pointed to 7.5 percent, which was the figure provided by the Minister of Planning and Development, Aiuba Cuereneia to parliament in December 2005.

While it was lower than the 11.15 percent rate for 2005, 2006 inflation was slightly higher than the 9.07 percent posted in 2004.

According to Levene, inflation was practically set by the harvests due to the importance of food products in the basket of goods used to calculate the Consumer Price Index.

Thus price rose in the first four months of the year, with inflation reaching 6.02 percent, fell in the next four months to 3.96 percent in August and rose again in the final four months of the year. (macauhub)