Angola: Inflation stays cripplingly high in February
March 16, 2017
Consumer prices in the province of Luanda, Angola rose 2.59% in February from the previous month, above January’s 2.29% rise. According to the National Statistical Institute (Instituto Nacional de Estatística), February’s figure reflected a broad-based increase in prices, with a particularly significant uptick in prices for education, hotels, cafés and restaurants, and alcoholic beverages and tobacco.
Inflation edged down from 40.4% in January to 39.5% in February, while annual average inflation rose from 34.3% in January to 35.8% in February, the highest figure in nearly twelve years. Inflation has remained high since surging last year as a result of higher fuel prices, the depreciation of the kwanza and loose monetary policy.
Author: Oliver Reynolds, Economist