Angola: Inflation soars past 30% in June
July 12, 2016
In June, consumer prices rose 3.13% over the previous month, which came in below the 3.31% increase recorded in May. According to the National Statistical Institute (Instituto Nacional de Estatística), June’s reading reflected higher prices in 11 of the 12 components of the index, where the food and non-alcoholic beverages as well as miscellaneous goods and services components tallied the biggest increases.
Inflation soared from 29.2% in May to 31.8% in June, which marked the highest level in over 11 years. Meanwhile, the trend continued to point upward: annual average inflation jumped from 16.8% in May to 18.7% in June, a level not seen since April 2006.