Angola: Inflation drops to a two-and-a-half-year low in July

Consumer prices in the province of Luanda rose 1.2% in July from the previous month, unchanged from June’s print. According to the National Statistical Institute (Instituto Nacional de Estadística), July’s result was largely driven by higher prices for food and non-alcoholic beverages, and clothing and footwear.

Meanwhile, inflation in the province of Luanda fell from 20.2% in June to 19.5% in July, marking the lowest reading in two-and-a-half years. In turn, annual average inflation fell to a near two-year low of 24.1% in July, from 24.9% in June.

Angola Inflation Forecast

FocusEconomics Consensus Forecast panelists expect inflation of 24.1% in 2018, which is down 0.7 percentage points from last month’s projection. For 2019, the panel foresees inflation of 18.3%.