Angola: Inflation hits over-10-year high in March

In March, consumer prices rose 3.42% over the previous month, which followed the 3.27% increase recorded in February. According to the National Statistical Institute (Instituto Nacional de Estatística), March’s reading reflected a broad-based increase in the 12 components of the index where the food and non-alcoholic beverages component tallied the biggest increase.

Inflation edged up from 20.3% in February to 23.6% in March, which marked the highest level in over 10 years. Meanwhile, the trend continued to point upward: annual average inflation jumped from 12.2% in February to 13.5% in March, a level not seen since November 2011.

FocusEconomics Consensus Forecast panel participants expect inflation of 19.4% in 2016, which is up 4.8 percentage points from last month’s projection. For 2017, the panel foresees inflation of 13.4%.