Angola Inflation June 2017

Angola

Angola: Inflation continues to dip, but remains too high for comfort

July 14, 2017

Consumer prices in the province of Luanda rose 1.58% in June from the previous month, down from May’s 1.76%. According to the National Statistical Institute (Instituto Nacional de Estatística), June’s figure reflected a broad-based increase in prices, with particularly significant upticks in prices for health, clothing and footwear and household equipment.

Inflation dropped from 34.1% in May to 31.9% in June, the lowest rate in 12 months and marking the sixth consecutive monthly decline. Recent data suggests inflationary pressures are gradually unwinding, after trending upwards uninterruptedly from 2015 until the end of last year, as the effects of higher fuel prices and the depreciation of the kwanza finally start to lessen. In addition, the National Bank of Angola’s (BNA) significant tightening cycle engaged in 2016 seems to be bearing fruit. Inflationary pressures nevertheless remain elevated, denting consumers’ purchasing power and whipping up economic uncertainty, and matters aren’t being helped by the parallel exchange rate, which is significantly depreciated compared to the fixed rate set by the Central Bank.

FocusEconomics Consensus Forecast panel participants expect inflation of 29.9% in 2017 and 18.3% in 2018.


Author:, Economist

Sample Report

Looking for forecasts related to Inflation in Angola? Download a sample report now.

Download

Angola Inflation Chart


Angola Inflation June 2017

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: National Statistical Institute (INE, Instituto Nacional de Estatística)


Angola Economic News

More news

Search form