Inflation Mozambique 2023
Average inflation: 7.2%
Current Inflation
Inflation is very high at 7.2%, far above the ECB target.
Peak and Trough
The highest inflation was in March at 10.8%. The lowest inflation was in September at 4.6%.
- Highest month
- March: 10.8%
- Lowest month
- September: 4.6%
- Difference
- 6.2 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 10.2%. The lowest price increase was in Energy with an average of 6.8%.
- Highest increase
- Food: 10.2%
- Lowest increase
- Energy: 6.8%
Historical Context
Current inflation is 1.2% higher than the 5-year average of 6.0%.
- 5-year average
- 6%
- 10-year average
- 7.3%
- All-time high (2016)
- 17.4%
- All-time low (2014)
- 2.6%
Trend
Inflation has remained relatively stable. Compared to 2022, the difference is minimal (-3.1 percentage point).
- Change vs. previous year
- -3.1 percentage points
- Largest monthly swing
- August: -8.1 percentage points
ECB Target
Inflation is 5.2% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €107.20 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 9.8% | +2.0 |
| February | 10.3% | +3.7 |
| March | 10.8% | +4.1 |
| April | 9.6% | +1.2 |
| May | 8.2% | -1.9 |
| June | 6.8% | -4.7 |
| July | 5.7% | -7.0 |
| August | 4.9% | -8.1 |
| September | 4.6% | -8.1 |
| October | 4.7% | -7.1 |
| November | 5.4% | -5.9 |
| December | 5.3% | -5.6 |
| Average | 7.2% |
Data source
Data from WorldBank. Last updated: 06/01/2026.