Angola Inflation February 2017

Angola

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.

FocusEconomics Consensus Forecast panel participants expect inflation of 30.6% in 2017, which is unchanged from last month’s projection. For 2018, the panel foresees inflation of 21.0%.


Author:, Economist

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Angola Inflation February 2017

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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