Angola Inflation September 2023

Angola: Inflation comes in at highest level since November 2022 in September

Inflation rose to 15.0% in September, above August’s 13.6%. September’s result was the highest inflation rate since November 2022. Inflation has risen in recent months due to a marked depreciation of the kwanza, caused by reduced Central Bank interventions amid low export revenues in early 2023. Additionally, the government’s decision to reduce a fuel subsidy in early June has led to a significant increase in gasoline prices, which further pushed up inflation.

Meanwhile, annual average inflation fell to 12.8% in September from 13.0% in August.

Finally, consumer prices rose 2.10% from the previous month in September, picking up from August’s 2.04% rise. September’s figure was the highest reading since December 2021.

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