Ver Angola

Economy

Prices rose 25.32 percent in the last 12 months and 2.05 percent in June

Prices in Angola have risen 25.32 percent over the past 12 months, according to the latest figures from the National Statistics Institute (INE), released Tuesday, following a 2.05 percent increase between May and June.

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"The year-on-year change is 25.32 percent, an increase of 2.70 percentage points compared to the same period last year," says the National Consumer Price Index (IPCN), published Tuesday on the INE website.

The same document points out that prices also increased 2.05 percent between May and June.

The Food and Non-Alcoholic Beverages category was the one that registered the highest price increase in this period, with 2.57 percent, followed by Health, with 2.13 percent, Alcoholic Beverages and Tobacco, with 1.86 percent and Hotels, Cafes and Restaurants, with 1.81 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," being responsible for 1.46 percentage points of the 2.05 percent increase in June.

The figure recorded in June this year represents an increase of 0.02 percentage points compared to the previous month and, in year-on-year terms, of 0.31 percentage points compared to the 1.74 percent recorded in the same period last year.

Already since the beginning of the year, inflation in Angola totals 12.09 percent, a figure similar to that recorded in the first six months of 2020, when it reached 11.89 percent. In relation to 2019, this represents an increase of 5.42 percentage points from the 6.67 percent recorded then.

According to INE, the provinces that saw the largest increase were Lunda Sul (2.31 percent), Huíla (2.25 percent), Luanda (2.24 percent), Lunda Norte and Zaire (both 2.2 percent).

On the other hand, the provinces with the least change were Huambo (1.76 percent), Cunene (1.70 percent), Bié (1.63 percent), Kwanza Norte and Cabinda (both 1.62 percent).

In the proposal for the General State Budget for 2021, Luanda estimated an annual accumulated inflation rate of 18.27 percent for this year.

Earlier this month, consultancy Fitch Solutions revised upwards its estimate of inflation for this year in Angola, due to the increase in interest rates by the central bank and now expects prices to rise by 23.5 percent.

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