Inflation in Angola
Angola - Inflation (end of period)
Inflation comes in at highest level since June 2017 in October
Consumer prices increased 2.16% over the previous month in October, a smaller increase than the 2.34% increase recorded in September. October's result marked the weakest reading since January.
Inflation edged up to 30.4% in October, following September’s 30.2%. October's result represented the highest inflation rate since June 2017.
Looking ahead, inflation is set to remain elevated next year, but should ease somewhat on the back of softening supply bottlenecks. Moreover, the halving of the value-added tax applicable to basic goods from 14.0% to 7.0% approved on 28 October should further support downward pressure on prices next year.
However, analysts at the EIU do not expect a marked impact of the VAT reduction given a host of other factors, adding:
“We expect the new rate to have a minimal effect on current inflation rates well into 2022, given continued pressure on the kwanza, declining oil production and a gloomy economic outlook.”
FocusEconomics Consensus Forecast panelists expect inflation to average 19.8% in 2022 and 13.0% in 2023.
Angola - Inflation (eop) Data
|Inflation Rate (CPI, annual variation in %, eop)||14.3||41.9||26.3||18.2||17.1|
5 years of economic forecasts for more than 30 economic indicators.
Angola Inflation (eop) Chart
|Exchange Rate||479.0||0.0 %||Jan 01|
|Stock Market||0.1||0.0 %||Jan 07|
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November 17, 2021
Consumer prices increased 2.16% over the previous month in October, a smaller increase than the 2.34% increase recorded in September.
November 11, 2021
The average price of Cabinda oil came in at USD 83.6 per barrel (pb) in October.
October 13, 2021
Cabinda oil prices came in at USD 74.5 per barrel (pb) on average in September, up from USD 70.9 pb in August.
October 12, 2021
Luanda-province consumer prices rose 2.34% in September over the previous month, largely in line with the 2.30% rise logged in August.
October 11, 2021
The economy returned to growth in the second quarter for the first time since Q2 2019, with GDP expanding 1.2% year-on-year and swinging from the first quarter’s 3.4% contraction.