In Mozambique, the prices of essential services and products have risen by 2.84 per cent since November last year. According to INE, Quelimane recorded the highest price increase with around 4.34 per cent, followed by the city of Xai-Xai, with 3.64 per cent, and the city of Chimoio, with 3.53 per cent.
According to the Bank of Mozambique, the outlook for inflation remains in the single digits in the medium term. The trajectory of inflation, combined with other factors, contributed to the reduction in the monetary policy interest rate, MIMO, from 13.50 per cent to 12.75 per cent.