Angola: Inflation hits highest level since November 2017 in March
Consumer prices increased 2.40% from the previous month in March, accelerating from the 2.35% rise seen in February. March’s result marked the sharpest increase in prices since September 2018. The print reflected notable upticks in prices for food and non-alcoholic beverages; health; transport; and leisure, recreation and culture.
Inflation increased to 27.3%in March, above February’s 26.4%. March’s figure represented the highest inflation rate since November 2017.
Gerrit van Rooyen, economist at Oxford Economics, added:
“Inflation will remain elevated due to the kwanza’s depreciation. The increase in consumer prices will reduce real incomes and impede personal consumption. The protracted economic depression has also resulted in higher unemployment, which further reduces total consumer spending power.”