The annual inflation rate in Mozambique fell to 3.41 percent in March 2019 from 3.72 percent in the prior month. It is the lowest inflation rate since May last year, as prices slowed mainly for transport (6.42 percent vs 10.74 percent in February) and restaurants & hotels (5.66 percent vs 5.79 percent). In contrast, cost advanced faster for health (6.39 percent vs 3.98 percent) amid growing medical needs of people affected by Ciclone Idai; food & non-alcoholic beverages (1.91 percent vs 0.95 percent); housing & utilities (3.22 percent vs 1.72 percent) and furnishings (1.15 percent vs 0.89 percent). On a monthly basis, consumer prices went up 0.67 percent, after a 0.30 percent gain in February. Main positive contributions came from prices of tomato (10.6 percent); onion (6.5 percent); butter beans (4.4 percent); cabbage (4.6 percent); electricity (21.7 percent); coal (6.3 percent) and medical consultations (5.1 percent). Inflation Rate in Mozambique averaged 8 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 4.00 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 3.20 in 12 months time. In the long-term, the Mozambique Inflation Rate is projected to trend around 3.50 percent in 2020, according to our econometric models.