{"id":42807,"date":"2023-07-17T11:05:16","date_gmt":"2023-07-17T11:05:16","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/totalenergies-return-this-year-expected-to-drive-inflation-to-8-8-in-q4"},"modified":"2023-07-17T11:26:18","modified_gmt":"2023-07-17T11:26:18","slug":"totalenergies-return-this-year-expected-to-drive-inflation-to-8-8-in-q4","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/totalenergies-return-this-year-expected-to-drive-inflation-to-8-8-in-q4","title":{"rendered":"TotalEnergies\u2019 return this year, expected to drive inflation to 8.8% in Q4"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>Oxford Economics said on Thursday that inflation in Mozambique, after falling to March 2022 levels,will rise to 8.8% in the last quarter of the year, driven by TotalEnergies\u2019 return to Cabo Delgado.<\/p>\n

\u201cWe anticipate that TotalEnergies will restart construction of the Afungi LNG Park in Cabo Delgado in the second half of this year, which will significantly increase imports, which in turn will put pressure on foreign currency reserves, prompting the Bank of Mozambique to abandon the current \u2018de facto\u2019 peg in the last quarter of the year,\u201d the analysts write in a commentary on June inflation.<\/p>\n

In the note sent to investors and to which Lusa had access, Oxford Economics wrote that \u201cthe consequent depreciation of the metical exchange rate will increase the prices of imported goods, such as food products, and bring inflation to 8.8% in the fourth quarter\u201d.<\/p>\n

The analysts\u2019 comment comes just days after the release of June\u2019s price increase, which rose by just 1.4 percentage points to the lowest level since March 2022.<\/p>\n

\u201cAlthough inflation fell below 7% year-on-year for the first time since October 2021, we expect the rate to start rising gradually in the last quarter of the year due to imports needed to restart the TotalEnergies project and the depreciation of the metical,\u201d the analysts concluded.<\/p>\n

One-year inflation in Mozambique fell to 6.81% in June, according to data released on Tuesday by the National Statistics Institute (INE), the lowest in 14 months.<\/p>\n

\u201cThe reduction in inflation in June is explained by the fall in the price of cereals on the international market and the greater domestic supply of fruits and vegetables,\u201d reads the report on INE\u2019s Consumer Price Index for June 2023, consulted by Lusa.<\/p>\n

Last May, the one-year inflation rate in Mozambique had reached 8.23%, which according to INE, was then the lowest value (monthly growth) in 13 months.<\/p>\n

Compared to the previous month, May, the monthly rate of change in inflation in Mozambique fell 0.58%, but the accumulated since the beginning of the year points to an increase of 2.57%, according to INE\u2019s record.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. Oxford Economics said on Thursday that inflation in Mozambique, after falling to March 2022 levels,will rise to 8.8% in the last quarter of the year, driven by TotalEnergies\u2019 return to Cabo Delgado. \u201cWe anticipate that TotalEnergies will restart construction of the Afungi LNG Park in Cabo Delgado in the second half of […]<\/p>\n","protected":false},"author":84,"featured_media":42806,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-42807","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nTotalEnergies\u2019 return this year, expected to drive inflation to 8.8% in Q4 - Mozambique<\/title>\n<meta name=\"description\" content=\"Oxford Economics said on Thursday that inflation in Mozambique, after falling to March 2022 levels,will rise to 8.8% in ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/totalenergies-return-this-year-expected-to-drive-inflation-to-8-8-in-q4\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TotalEnergies\u2019 return this year, expected to drive inflation to 8.8% in Q4\" \/>\n<meta property=\"og:description\" content=\"Oxford Economics said on Thursday that inflation in Mozambique, after falling to March 2022 levels,will rise to 8.8% in ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/totalenergies-return-this-year-expected-to-drive-inflation-to-8-8-in-q4\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-17T11:05:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-17T11:26:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/07\/sm_1689576834.136063.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"357\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/totalenergies-return-this-year-expected-to-drive-inflation-to-8-8-in-q4#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/totalenergies-return-this-year-expected-to-drive-inflation-to-8-8-in-q4\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"TotalEnergies\u2019 return this year, expected to drive inflation to 8.8% in Q4\",\"datePublished\":\"2023-07-17T11:05:16+00:00\",\"dateModified\":\"2023-07-17T11:26:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/totalenergies-return-this-year-expected-to-drive-inflation-to-8-8-in-q4\"},\"wordCount\":357,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/totalenergies-return-this-year-expected-to-drive-inflation-to-8-8-in-q4#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/07\/sm_1689576834.136063.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/totalenergies-return-this-year-expected-to-drive-inflation-to-8-8-in-q4#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/totalenergies-return-this-year-expected-to-drive-inflation-to-8-8-in-q4\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/totalenergies-return-this-year-expected-to-drive-inflation-to-8-8-in-q4\",\"name\":\"TotalEnergies\u2019 return this year, expected to drive inflation to 8.8% in Q4 - 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