Ver Angola

Economy

Inflation increased to 22.17 percent in July

The National Consumer Price Index (IPCN) in Angola rose to 22.93 percent in July, an increase of 5.69 percentage points over the same period, according to data released by the National Statistics Institute.

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The “Food and Non-Alcoholic Beverages” class was the one that most contributed to the price increase with 1.02 percentage points during the month of July, followed by the classes “Miscellaneous Goods and Services” (0.14 points), “Clothing and Footwear ”(0.13) and“ Furniture, Household Equipment and Maintenance ”(0.12).

INE also detailed the inflationary incidence of 24 products selected from the shopping basket that most contributed to the rate of change of the IPCN, which, together, represent 7 percent of the total, but concentrate around 45.88 percent of the rate inflation variation.

Among these, we highlight the increases in collective taxi services, tomato paste, body cream and 'superwax' cloth. Foods such as rice, soybean oil, chicken, beef, onions, salt and carcass bread varied by more than 2 percent.

In monthly terms, inflation changed by 1.78 percent, between June and July 2020.

With reference to the province of Luanda, the inflation rate registered in the period from June to July 2020 was 1.83 percent, about 0.13 percentage points lower than that registered in the previous period.

The year-on-year change stood at 22.17 percent, that is, an increase of 4.58 percentage points compared to the previous period.

The goods and services that registered the highest rates belong to the “Hotels, Cafes and Restaurants” classes, with 2.82 percent, “Miscellaneous Goods and Services”, with 2.09 percent, “Food and Non-Alcoholic Beverages”, with 2.08 percent, and "Alcoholic Drinks and Tobacco", with 2.03 percent.

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