Physical cash in circulation in Mozambique grew to 74.9 billion meticais (€1 billion) in December, the highest level in more than a year, according to official data.
According to statistical data from the Bank of Mozambique covering the period to end of December, the amount in circulation had reached 73.7 billion meticais (€991 million) in the previous month, representing growth of 1.6%.
Over the course of a year, cash in circulation in Mozambique (broad money supply M3) increased 12%, according to the central bank’s historical data, following the introduction of a new series of the metical — Mozambique’s currency — on June 16, 2024.
The withdrawal of money from circulation is a common tool of contractionary monetary policy, used to reduce the money supply and typically employed by central banks to contain rising prices.
Prices in Mozambique rose 3.23% in 2025, according to data previously published by the National Statistics Institute (INE), below the level recorded the previous year.
Mozambique recorded eight monthly price falls (deflation) in the consumer price index in less than eighteen months, four of which occurred between April and July 2024, before prices resumed rising from August onwards.
Accumulated inflation for 2024, according to earlier INE data, stood at 4.15% — below the 5.3% recorded in 2023, but well below the peak of nearly 13% reached in July 2022.
The government had projected inflation of around 7% for Mozambique in 2025, with the same estimate applying to 2026.
