Angola Inflation March 2020

Angola: Inflation jumps to 18-month high in March

Consumer prices in the province of Luanda rose 1.7% from the previous month in March, following February’s 1.5% increase. The overall upturn was once again driven by higher prices for food and non-alcoholic beverages.

Meanwhile, inflation in the province of Luanda soared to 19.0% in March, from 18.4% in February, marking the highest reading since September 2018. Intensifying price pressures came against the backdrop of a deteriorating external and domestic economic backdrop due to the Covid-19 pandemic, which depressed global crude oil prices and triggered a sharp kwanza depreciation. Lastly, annual average inflation edged up to 17.5% in March, from a near four-year low of 17.3% in February.

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