Inflation Surges In Mozambique, Slips In Burundi, Mauritius

mozambican money

VENTURES AFRICA – Mozambique’s year-on-year consumer inflation surged in November as food prices shot up while Burundi’s and Mauritius’ annual inflation rate sagged in the same month because of a marked drop in food prices.

Mozambique’s year-on-year headline consumer inflation rushed in November to 2.33 percent from 1.8 percent in October, according to official statistics released on Friday.

Burundi’s annual inflation rate slipped 11.7 percent in November from 15.9 percent in October due to a month-on-month drop in food prices, official data showed on Friday.

The price index for food surged 6.5 percent in the twelve months to November, down from 12.4 percent in October, the Institute of Economic Studies and Statistics (ISTEEBU) said.

“Prices of sugar and rice – the most consumed products in the country – fell sharply in November compared to October,” Fidele Iranyibutse, an official at ISTEEBU, told Reuters on Friday.

The central African nation’s government scrapped duties on basic imported food such as beans, rice and potatoes after soaring prices prompted strikes in the capital.

Mauritius’ annual average inflation rate dropped for the eleventh straight month to 4 percent in November from 4.3 percent in October as food, clothing and transport prices fell, the statistics office said in a statement on Friday.

The year-on-year inflation rate fell to 3.06 percent from 4.2 percent. Finance Minister Xavier Duval forecast late on Thursday that inflation would drop to 3.9 percent by the end of the year, lower than the previous 4.1 percent estimate.