Year-on-year inflation in Mozambique was 12.1% in August, the highest value in the last four years and eleven months, announced the National Institute of Statistics (INE).

Year-on-year inflation in July had been 11.77% and rose 33 basis points in August (still at a slower pace than the 96 basis points from June to July), according to the new Consumer Price Index (CPI) bulletin.

To find the largest figure you have to go back to August 2017. At that time inflation was 14.13%, in the wake of the shock caused by hidden debts.

According to INE, the food, non-alcoholic beverages and transport divisions were again the ones that contributed the most to the increase in prices in Mozambique.

The CPI figures are calculated by INE from the price variations of a basket of goods and services, with data collected in the cities of Maputo, Beira and Nampula.

In cumulative terms, since the beginning of the year, 2022 inflation is now at 7.62%.