Angola: Inflation edges up in September
October 13, 2017
Consumer prices in the province of Luanda rose 2.54% in September from the previous month, coming in above August’s 1.66% month-on-month increase. According to the National Statistical Institute (Instituto Nacional de Estatística), September’s increase reflected higher prices in 11 of the 12 components of the index. Prices for clothing and footwear, health and alcoholic beverages and tobacco increased the most.
Inflation picked up from August’s over one-year low of 27.0% to 27.5% in September, putting an end to a sequence of eight consecutive monthly declines. Annual average inflation declined from 36.1% in August to 35.5% in September. This confirms that price pressures are declining despite the monthly increase and demonstrates that the National Bank of Angola’s (BNA) significant tightening cycle in 2016 is bearing fruit.