Angola Inflation March 2024

Angola: Inflation accelerates to a one-year high in March

Inflation rose to 26.1% in March, above February’s 24.1%. March’s reading represented the highest inflation rate since March 2022. A weaker kwanza in year-on-year terms continued to fuel inflationary pressures.

The trend pointed up, with annual average inflation coming in at 16.8% in March (February: 15.5%).

Finally, consumer prices increased 2.54% over the previous month in March, ticking down from the 2.58% increase logged in February.

Our Consensus is for average inflation to nearly double from 2023 levels in 2024 on a weaker currency, sturdier domestic activity, and as the remaining fuel subsidies are phased out.

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