{"id":47709,"date":"2023-10-01T20:04:43","date_gmt":"2023-10-01T20:04:43","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/bank-of-mozambique-forecasts-slight-acceleration-in-inflation-up-until-the-end-of-the-year"},"modified":"2023-10-01T21:45:16","modified_gmt":"2023-10-01T21:45:16","slug":"bank-of-mozambique-forecasts-slight-acceleration-in-inflation-up-until-the-end-of-the-year","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/bank-of-mozambique-forecasts-slight-acceleration-in-inflation-up-until-the-end-of-the-year","title":{"rendered":"Bank of Mozambique forecasts \u201cslight acceleration\u201d in inflation up until the end of the year"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Mozambique. <\/strong><\/span>The Monetary Policy Committee (CPMO) of the Bank of Mozambique, the country\u2019s central bank, forecasts a \u201cslight acceleration\u201d of inflation in the economy by the end of the year, but still to below 6%, according to a report released on Wednesday.<\/p>\n<p>\u201cThe short-term outlook points to a slight acceleration in inflation. These perspectives reflect the end of the cool season, the increase in tariffs at the Moamba toll and the increase in fuel and food prices in South Africa,\u201d the \u2018Economic Situation and Inflation Perspectives\u2019 report reads.<\/p>\n<p>The report however warns that \u201cthe prevailing risks\u201d to these perspectives are \u201cuncertainties\u201d regarding \u201cthe adjustment of fuel prices at domestic level\u201d and \u201cthe magnitude of the effects and impact of the \u2018El Nin\u0303o\u2019 phenomenon\u201d.<\/p>\n<p>\u201cEconomic agents have revised their inflation outlook for the end of the year downwards. In September 2023, the expectations of economic agents indicate that, in December 2023, annual inflation could be 5.88%, after 6.39% revealed in the previous survey [in August],\u201d the CPMO report relates.<\/p>\n<p>Annual inflation in Mozambique fell to 4.9% in August, after 5.7% in July, a fall attributed by the central bank, \u201cmainly by the fall in food prices, favoured by the extension of the cool season, in a context of stability of the metical\u201d.<\/p>\n<p>These perspectives led the CPMO to decide on September 22 to maintain the monetary policy interest rate at 17.25%. \u201cThis decision is supported by the worsening of risks and uncertainties associated with inflation projections, despite the prospects of remaining in single digits in the medium term. The prospects for single-digit inflation remain in the medium term,\u201d it said.<\/p>\n<p>It adds that \u201cthe risks and uncertainties underlying inflation projections have worsened\u201d in recent weeks, and that internally \u201cpressure on public spending and uncertainties regarding the evolution and effects of extreme climate events are expected to prevail\u201d.<\/p>\n<p>\u201cIn the external environment, uncertainties regarding the magnitude of the impact of the prolongation and escalation of the conflict between Russia and Ukraine stand out, as well as the recent trend towards increasing fuel prices. The materialisation of these risks could contribute to an acceleration of inflation, deviating it from the expected trajectory,\u201d the report also warns.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/mozambique\">Mozambique<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Mozambique. The Monetary Policy Committee (CPMO) of the Bank of Mozambique, the country\u2019s central bank, forecasts a \u201cslight acceleration\u201d of inflation in the economy by the end of the year, but still to below 6%, according to a report released on Wednesday. \u201cThe short-term outlook points to a slight acceleration in inflation. These [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":47708,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-47709","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":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Bank of Mozambique forecasts \u201cslight acceleration\u201d in inflation up until the end of the year - Mozambique<\/title>\n<meta name=\"description\" content=\"The Monetary Policy Committee (CPMO) of the Bank of Mozambique, the country\u2019s central bank, forecasts a \u201cslight accelera ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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