Inflation monitor: Mozambique at 4% as price pressures stay contained

Consumer price inflation in Mozambique stands at 4% year on year in the latest reading tracked by CBAN, easing from 4.5% in the prior reading.

The moderation gives the Banco de Moçambique more room for manoeuvre around its 11.75% policy rate. Across African consumer price baskets, food and non-alcoholic beverages typically carry the largest weight, followed by housing, utilities and transport — which is why harvests and fuel prices move headline inflation more here than in advanced economies.

Currency dynamics feed directly into the outlook. The Mozambican metical trades near 63.9 to the dollar, up 0% this year — a tailwind that dampens imported inflation.

Real GDP growth is running at around 4.3%, and official reserves stand near $3.6 billion. The next scheduled BdM rate decision is 23 September 2026.

CBAN tracks inflation across every African economy in the interactive inflation dashboard, updated as national statistical releases are incorporated into the dataset.