Inflation in Angola
Consumer price inflation in Angola averaged 18.8% in the ten years to 2022, which was above the Sub-Saharan Africa regional average of 9.4%. The average figure for 2022 was 21.4%. For more inflation information, visit our dedicated page.
Angola Inflation Chart
Angola Inflation Data
2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|
Inflation (CPI, ann. var. %, aop) | 19.6 | 17.1 | 22.3 | 25.8 | 21.4 |
Inflation (CPI, ann. var. %, eop) | 18.6 | 16.9 | 25.1 | 27.0 | 13.9 |
Inflation comes in at highest level since June 2022 in January
Inflation came in at 22.0% in January, up from December’s 20.0%. January's reading represented the highest inflation rate since June 2022. The partial removal of fuel subsidies in June 2023 and the continuous depreciation of the kwanza have driven up price pressures since Q2 2023. As a result, annual average inflation rose to 14.5% in January (December: 13.6%). Finally, consumer prices increased 2.49% in January over the previous month, picking up from December's 2.42% increase. January's figure was the highest reading since September 2018.
Inflation will accelerate notably on average this year from 2023 Recovering economic growth and stronger consumer spending, the removal of the remaining fuel subsidies sometime this year, and a weaker kwanza in year-on-year terms will drive inflation above its 2013–2023 average of 19.3%. The Central Bank has, consequently, opted to keep the currently restrictive monetary policy backdrop and is expected to hike further by end-2024 given its informal target of reaching single digit inflation by 2028.
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Angolan inflation projections for the next ten years from a panel of 13 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Angolan inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Angolan inflation projections.
Want to get access to the full dataset of Angolan inflation forecasts? Send an email to info@focus-economics.com.
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