Tuesday August 12 2014
Central Bank of Mozambique Holds Key Rate in August
Isabel Felino | isabel.felino@tradingeconomics.com

At its August 11th, 2014 meeting, Mozambican Monetary Policy Committee decided to hold the benchmark interest rate at 8.25 percent, the same rate since October of 2013, citing that recent moderated inflation outlook is meeting the macroeconomic targets for the year.

The Central Bank left its standing lending facility rate unchanged at 8.25 percent, and the deposit facility rate at 1.5 percent. The reserves requirements ratio was left unchanged at 8.0 percent. 

Also, the Central Bank decided to intervene in the interbank markets to ensure the achievement of the Monetary Base target in August of 2014, set at 52,758 million Meticais.

The Monetary Policy Committee considered the recent domestic inflation behavior positive, which reflects a greater supply of fruits and vegetables associated with the stability of the metical in the domestic foreign exchange market. 




Thursday August 07 2014
Mozambique Inflation Rate Rises in July
INE | Isabel Felino | isabel.felino@tradingeconomics.com

Mozambican annual inflation rate accelerated to 2.95 percent in July of 2014 from 2.75 percent in June mostly driven by higher cost of food and non-alcoholic beverages and education.

On a monthly basis, the CPI fell 0.04 percent in July of 2014, compared with a 0.52 percent decrease in the previous month. The downward pressure was driven mostly by clothing & footwear, and food & non-alcoholic beverages. In particular, lower prices were recorded for onion (-7.8 percent), cabbage (-10.0 percent), tomato (-2.1 percent). In contrast, monthly prices rose in July of 2014 for cassava flour and yellow sugar. 

Compared with the previous month, inflation fell in Maputo area (-0.43 percent from -1.33 percent in June of 2014). In contrast, prices rose in Beira (0.06 percent from -0.9 percent) and Nampula (0.43 percent from -0.17 percent).




Friday July 11 2014
Central Bank of Mozambique Leaves Rates on Hold
Isabel Felino | isabel.felino@tradingeconomics.com

At its July 11th, 2014 meeting, the Monetary Policy Committee decided to leave the benchmark interest rate unchanged at 8.25 percent, aiming to ensure compliance with macroeconomic targets.

The central bank left its standing lending facility rate unchanged at 8.25 percent for the ninth straight meeting. The deposit facility rate was kept at 1.50 percent and reserves requirements ratio was left unchanged at 8.0 percent.

In setting up the right monetary policy, the Committee took into consideration the national and international economic situation and the inflation rate. Policymakers also considered signs of global economic activity slowdown and high volatility in prices of major commodities that weight in the country’s balance of payments.

In July, the central bank decided to intervene in interbank markets to ensure the monetary base target of 50,471 million Meticais.


Thursday July 10 2014
Mozambique Inflation Rate Eased Slightly in June
INE | Isabel Felino | isabel.felino@tradingeconomics.com

Mozambican annual consumer inflation slowed to 2.75 percent in June of 2014 from 2.91 percent recorded in the previous month. A year earlier the annual inflation rate was 4.86 percent.

Upward inflationary pressures came mostly from higher prices of education (5.85 percent) and food.

On a month-over-month basis, the inflation fell further to 0.52 percent in June of 2014, from a 0.38 percent decline in the previous month, mostly driven by lower food cost. In particular, prices dropped for tomatoes (-17.2 percent), dry fish (-4 percent), coconut (-5.5 percent), onion (-5.4 percent), cabbage (-10.5 percent) and lettuce (-8.1 percent). Prices of household equipment and routine household maintenance also declined 2.3 percent.

On a yearly basis, prices increased in Maputo (2.46 percent), Beira (2.39 percent), and Nampula (3.40 percent). The highest month-over-month price decline was registered for Maputo city (-1.33 percent), followed by Beira (-0.48 percent). On the other hand, Nampula recorded a 0.48 percent increase in consumer prices. 


Saturday June 14 2014
Mozambique Monetary Policy Unchanged in June
Isabel Felino | isabel.felino@tradingeconomics.com

At its June 13th, 2014 meeting, The Central Bank of Mozambique Monetary Policy Committee decided to keep the benchmark interest rate at 4.0 percent for the eighth straight month, as it considered the suitable monetary policy to accomplish the established macroeconomic targets.

The deposit facility rate was kept at 1.50 percent and reserves requirements ratio was fixed at 8.0 percent. In June, the Central Bank of Mozambique intervened in interbank markets in order to ensure the Monetary Base target of 48,023 million of Meticais.

The annual inflation rate increased to 2.91 percent in May of 2014 from 2.87 percent recorded in the previous month. The inflation rate in May was affected by moderate prices of  fresh food products combined with the stability of Metical.


Friday June 06 2014
Mozambican Inflation Rate Steady in May
Isabel Felino | isabel.felino@tradingeconomics.com

The annual inflation rate in Mozambique was recorded at 2.91 percent in May of 2014, almost unchanged from 2.87 percent in the previous month. A year earlier, the inflation rate was recorded at 4.9 percent.

In May of 2014, the highest upward pressure came from cost of food and non-alcoholic beverages (+4.5 percent yoy). Annual consumer prices slowed in Maputo (3.38 percent in May from 3.6 percent in April) and Nampula (2.97 percent from 3.26 percent), but accelerated in Beira (1.39 percent from -0.17 percent).

On a month-on-month basis, the CPI fell for the first time in 2014 by 0.38 percent in May, compared to a 0.12 percent increase in the previous month, mostly due to a drop in food prices. Among food items, prices declined for tomatoes (-7.5 percent), coconut (-4.4 percent), cabbage (-8.8 percent), coal (-0.8 percent), and corn (-20.8 percent). Additional downward pressures came from prices of housing, water, electricity and gas.

In May, consumer prices fell in all major cities: Maputo (-0.62 percent), Beira (-0.2 percent) and Nampula (-0.09 percent).


Tuesday May 13 2014
Mozambique Inflation Rate Slows in April
Isabel Felino | isabel.felino@tradingeconomics.com

Mozambican annual inflation rate decelerated to 2.87 percent in April of 2014, from 3.0 percent in the previous month. It is the lowest rate in fifteen months.

Year-on-year, the highest upward pressures came from prices of food and non-alcoholic beverages, education (5.85 percent) and housing, water, electricity, gas and other fuels (5.02 percent).  

On a monthly basis, the inflation rate slowed sharply to 0.12 percent in April from 0.91 percent in March, mainly due to a fall in prices of alcoholic beverages, clothing, footwear and furnishing. In contrast, prices of food and non-alcoholic beverages rose 0.27 percent and cost for housing, water, electricity, gas and other fuels advanced 0.2 percent.

Consumer prices slowed in Maputo to 0.63 percent (from 1.54 percent in March) and fell in Beira (-0.9 percent from 0.06) and Nampula (-0.17 percent from 0.38).


Monday May 12 2014
Mozambique Leaves Monetary Policy Unchanged
Joana Taborda | joana.taborda@tradingeconomics.com

At its May 12th, 2014 meeting, Bank of Mozambique left its benchmark interest rate unchanged at 8.25 percent, citing underlying risks in the international and domestic economy.

The Bank continued with what he calls a prudent monetary policy and said it will intervene in the interbank markets to accomplish the 47533 million Meticais base money target for May. 

The deposit facility rate and the reserve requirements ratio were left on hold at 1.5 percent and 8.0 percent, respectively.


Wednesday April 16 2014
Mozambique Leaves Lending Rate Steady at 8.25%
Joana Taborda | joana.taborda@tradingeconomics.com

At its April 16th, 2014 meeting, Bank of Mozambique left its benchmark interest rate unchanged at 8.25 percent for the sixth consecutive meeting, saying this was consistent with meeting domestic economic targets for 2014.

In March, the annual consumer prices accelerated for the first time in five months to 3 percent. In 2013, the GDP advanced 7 percent, in line with expectations, but slower than 7.3 percent in 2012.

The central bank also took uncertainty over global growth into account to take its decision. 

The Bank will intervene in the interbank markets to accomplish the 46451 million Meticais base money target for April. 

The deposit facility rate and the reserve requirements ratio were left on hold at 1.5 percent and 8.0 percent, respectively.


Friday April 04 2014
Mozambican Inflation Rate Up To 3.0% in March
Isabel Felino | isabel.felino@tradingeconomics.com

The annual consumer prices in Mozambique accelerated for the first time in five months to 3.0 percent in March of 2014, from 2.38 percent recorded in February of 2014, as food and no alcoholic beverages costs edged up.

A year earlier, the inflation rate was recorded at 4.27 percent. In March of 2014, upward pressures came from cost of housing, electricity, gas and fuel (5.99 percent), followed by food and no alcoholic beverages (3.65 percent). 

On a month-on-month basis, the CPI increased by 0.91 percent, compared to a 0.39 percent rise in the previous month and 0.30 percent in the same month last year. Food and non-alcoholic beverages cost increased 1.78 percent mostly due to higher prices of tomato (13.8 percent), onion (12.3 percent), and coconut (8.4 percent).