BPI warns of possibility of double digit inflation for Mozambique

5:22 PM Harts for Africa 0 Comments

The Portuguese Investment Bank (BPI) has warned that Mozambique could see double digit inflation by the end of 2010, Aim News has reported. Double digit inflation would exceed the government’s target of 9.5 percent inflation for this year. BPI has attributed the possible leap in inflation to the termination of across the board fuel subsidies and to the rising price of oil, amongst other variables. In the first half of 2010, inflation stood at 5.2 percent, up from 3.3 percent in 2009.

We are seeing this happen. Our electricity bill is up by 350% fuel is up from 23mtn to 42mtn. ouch!!!!