Inflation in Mozambique expected to total 5.6 pct this year

1 August 2012

Mozambique’s rate of inflation for this year is not expected to exceed the 5.6 percent figure set by the government as one of its main macroeconomic targets, said director and spokesman for the Bank of Mozambique, Waldemar de Sousa, Tuesday in Maputo.

During the presentation of the Economic Climate and Inflation Outlook Bulletin for 2002, de Sousa gave assurances that the central bank’s projections were that between January and August of this year the country would have a very low variation in the Consumer Price Index (CPI).

Although in the fourth quarter seasonal price pressures are usually felt, which leads to a greater variation than is usually seen from January to August, de Sousa said that the 5.6 percent target for this year was expected to be met.

Cited by Mozambican newspaper Notícias, Waldemar de Sousa said that the recent upward review of Mozambique’s credit rating by Fitch Ratings was, “extremely positive for Mozambique, particularly when benchmarked against some African countries with economies of a similar size to our country.” (macauhub)