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Food Inspection Authority is fighting price speculation

The National Authority for Food Inspection and Safety (ANIESA) is conducting an operation to combat price speculation in Luanda, with positive results in some areas of the city, said Friday a source from the institution.

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According to ANIESA's senior inspector, Eduardo Bastos, in six days of operation it was possible to determine some targets, which have already suffered a considerable price drop.

"A [ten-kilogram box of] thigh, in the Benfica area, the product was being sold at 17,128 kwanzas, we managed to lower it to 15,470, we also managed to lower, in the Benfica area, the whole chicken box to the price of 8000 kwanzas," said Eduardo Bastos speaking to Rádio Nacional de Angola.

The official said that the operation carried out only in Luanda, with the purpose of essentially "making the basic food basket products reach every consumer at a reduced price" will be extended to other provinces in the country.

Eduardo Bastos said that commercial establishments were detected in which they have an invoice for the tax deduction, the one certified by the General Tax Administration, another invoice issued by hand, for the division or sharing of profits among partners, which "often inflates the price.

Prices in the country increased by 1.81 percent between September and October, according to a monthly report by the National Statistics Institute (INE), putting 12-month cumulative inflation at the highest since December 2017.

The INE data released Thursday shows that the food and non-alcoholic beverages category saw the largest price increase, with 2.11 percent, followed by alcoholic beverages and tobacco, with 2.08 percent, hotels, cafes and restaurants, with 1.97 percent, and clothing and footwear, with 1.89 percent.

The food and non-alcoholic beverages category was also the one that, according to INE, "most contributed to the increase in the general price level," accounting for 1.02 percentage points of the 1.81 percent increase in October.

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