Angola: Inflation falls to a near three-year low in October
Consumer prices in the province of Luanda rose 1.4% in October from the previous month, down from the revised 2.8% increase recorded in September (previously reported: +5.0% month-on-month). According to the Statistical Institute (Instituto Nacional de Estadística), the increase was led by higher prices for hotels and restaurants, clothing and footwear, and health.
Meanwhile, inflation in the province of Luanda slowed to 17.4% in October, from the revised 19.2% in September (previously reported: 21.8%). October’s print marked the lowest reading since January 2016. Meanwhile, annual average inflation continued to fall in October coming in at 21.8%, an over two-year low, from 22.8% in the previous month.