Mozambique: Inflation Turned to Deflation in May

Maputo — The average level of prices in Mozambique fell by 0.38 per cent in May, as inflation turned to deflation, according to the latest figures on inflation issued by the National Statistics Institute (INE).

Inflation in the first five months of the year was 1.42 per cent, caused largely by rises in food prices.

Annual inflation in May (1 June 2023 – 31 May 2024) was 3.07 per cent. This compares with 3.26 per cent in April, 3.03 per cent in March, four per cent in February, and 4.19 per cent…