Angola Inflation May 2021

Angola

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

June 14, 2021

Consumer prices increased 2.21% in May over the previous month, a smaller increase than April's 2.32% increase. May's result marked the softest rise in prices since January. The print was driven by softer price increases for food and non-alcoholic beverages, and communications.

Inflation came in at 28.0% in May, which was up from April’s 27.7%. May's result marked the highest inflation rate since October 2017. Meanwhile, annual average inflation rose to 24.9% in May from 24.3% in April.

Analysts at The EIU added:

“We expect annual inflation to ease slightly in the coming months, benefiting from some local-currency appreciation, which will ease imported price pressures. However, we forecast that the impact will be relatively marginal, with inflation remaining fairly high (averaging 22.2% in 2021). We expect annual inflation to slow more markedly over the remainder of the forecast period as higher export earnings in 2021-23 temper the rate of currency depreciation. However, the eventual reduction in several subsidies, such as those for electricity and fuel, will keep prices fairly high.”

FocusEconomics Consensus Forecast panelists expect inflation to average 20.5% in 2021 and 14.8% in 2022.


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Angola Inflation May 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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