Angola Inflation July 2016

Angola

Angola: Inflation jumps in July to almost-12-year high

August 15, 2016

In July, consumer prices rose 4.04% over the previous month, which came in above the 3.27% increase recorded in June. The print observed in July marks the highest increase in over 12 years. According to the National Statistical Institute (Instituto Nacional de Estatística), July’s reading reflected a broad-based increase in all 12 components of the index with the food and non-alcoholic beverages category tallying the sharpest rise.

Inflation soared from 31.8% in June to 35.3% in July, which marked the highest level since August 2004. Meanwhile, the trend continued to point upward: annual average inflation jumped from 18.7% in June to 20.8% in July, a level not seen since February 2006.

FocusEconomics Consensus Forecast panel participants expect inflation of 25.6% in 2016, which is up 0.8 percentage points from last month’s projection. For 2017, the panel foresees inflation of 14.8%.


Author: Jean-Philippe Pourcelot, Economist

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Angola Inflation July 2016 0

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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