Angola: Inflation stable at near four-year low in October
November 13, 2019
Consumer prices in the province of Luanda rose 1.3% from the previous month in October, edging down from September’s 1.6% increase and marking the lowest reading in four months. According to the Statistical Institute, 9 out of the 12 sub-components in the index posted monthly price increases, led by food and non-alcoholic beverages; furniture, home equipment and maintenance; and clothing and footwear.
Inflation in the province of Luanda remained unchanged at September’s near four-year low of 16.5% in October. This was despite the upside pressures stemming from kwanza’s depreciation in the second half of October after the Central Bank abandoned the trading band that was in place since January 2018, thus floating the currency. Meanwhile, annual average inflation inched down to a 41-month low of 17.5% from 17.6% in September.
Author: Almanas Stanapedis, Economist