The annual inflation rate in Mozambique fell further to 2.16 percent in July 2019 from 2.30 percent in the prior month, hitting its lowest level since July 2015. Prices rose at a softer pace mainly for food & non-alcoholic beverages (3.24 percent vs 3.30 percent in June); transport (1.02 percent vs 1.20 percent); clothing & footwear (3.34 percent vs 3.68 percent) and restaurants & hotels (2.69 percent vs 2.96 percent). Meantime, inflation was steady for housing & utilities (at 3.05 percent ) and education (at 4.39 percent). In addition, prices fell for furnishings (-0.51 percent vs -0.03 percent); communication (-0.75 percent vs -0.60 percent) and recreation & culture (-0.40 percent vs -1.27 percent). On a monthly basis, consumer prices went down 0.31 percent, after decreasing 0.2 percent in the previous month. Inflation Rate in Mozambique averaged 7.83 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 2.00 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 1.70 in 12 months time. In the long-term, the Mozambique Inflation Rate is projected to trend around 1.80 percent in 2020, according to our econometric models.