Soaring inflation sees Mozambique hike by 100bp

Inflation reaches 11.25% in January 2016 as a result of food price shock

The Bank of Mozambique raised its key interest rate by 100 basis points to 10.75% on February 15, in an effort to control rapidly increase inflation, which rose above 11% last month.

According to statistics published by the National Statistics Institute (INE), annual inflation measured 10.55% for 2015, above the government's forecast for the year of 5.1%.

In January inflation ticked up further to 11.25%, something the agency attributed to an ongoing food-price shock. This has seen the price of

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