Angola: Inflation comes in at highest level since December 2022 in August
Inflation came in at 13.6% in August, up from July’s 12.1%. August’s figure was the highest inflation rate since December 2022. Inflation has been on the rise in recent months due to a sharp depreciation of the kwanza, caused by reduced Central Bank interventions amid low export revenues. Moreover, the government’s decision to reduce a fuel subsidy in early June has led to a significant increase in gasoline prices, which further boosted inflation.
Finally, consumer prices rose 2.04% in August over the previous month, accelerating from July’s 1.60% rise. August’s uptick marked the highest reading since December 2021.