Angola: Luanda Inflation eases in March
Consumer prices in Luanda increased 1.52% in March over the previous month, ticking down from the 1.66% rise logged in February. The print came on the back of softer price growth for clothing and footwear, and food and non-alcoholic beverages. On the other hand, prices for housing, water, electricity and fuel rose at a stronger pace.
Inflation eased to 28.5% in March, below February’s 29.7% print. However, the trend pointed up marginally, with annual average inflation came in at 29.5% in March, up from February’s 29.4%.
Analysts at the EIU added:
“Inflation trends in 2022-26 will be driven mainly by prices of imported commodities and food, as well as by currency movements. Prices of agricultural commodities […] will soar, as Ukraine and Russia together account for more than a quarter of global wheat trade and produce 12% of the calories that are consumed globally. Disruptions to trade routes in the Black Sea will further increase pressure on grain prices. We […] expect price inflation to remain well into the double digits until 2024. Inflationary pressure will fall, albeit gradually, to 16.6% at end-2022 and 11.3% at end-2023.”