Angola Inflation October 2021

Angola

Angola: Inflation comes in at highest level since June 2017 in October

November 17, 2021

Consumer prices increased 2.16% over the previous month in October, a smaller increase than the 2.34% increase recorded in September. October's result marked the weakest reading since January.

Inflation edged up to 30.4% in October, following September’s 30.2%. October's result represented the highest inflation rate since June 2017.

Looking ahead, inflation is set to remain elevated next year, but should ease somewhat on the back of softening supply bottlenecks. Moreover, the halving of the value-added tax applicable to basic goods from 14.0% to 7.0% approved on 28 October should further support downward pressure on prices next year.

However, analysts at the EIU do not expect a marked impact of the VAT reduction given a host of other factors, adding:

“We expect the new rate to have a minimal effect on current inflation rates well into 2022, given continued pressure on the kwanza, declining oil production and a gloomy economic outlook.”

FocusEconomics Consensus Forecast panelists expect inflation to average 19.8% in 2022 and 13.0% in 2023.


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Angola Inflation October 2021

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


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