Angola: Inflation accelerates to a near seven-year high in April
Inflation surged to 28.2% in April, above March’s 26.1%. March’s reading represented the highest inflation rate since June 2017. A weaker kwanza in year-on-year terms continued to fuel inflationary pressures. The effect of last year’s petrol subsidy removal further fueled prices.
Accordingly, the trend pointed up, with annual average inflation coming in at 18.3% in April (March: 16.8%).
Finally, consumer prices rose 2.61% over the previous month in April, up from the 2.54% increase logged in March. April’s result was the highest reading since September 2018.
Average inflation will accelerate significantly from 2023 levels this year, coming in at historically high levels. A weaker currency, the phasing-out of remaining fuel subsidies and faster economic momentum will drive price pressures through year-end.