Ver Angola


Prices will continue to rise after inflation of 12.12 percent

The economic studies office of Banco Fomento Angola (BFA) considered that after the third consecutive increase in prices, to 12.12 percent in July, inflation will continue to rise.


"In general, our expectation was for higher monthly inflation, however, we believe that prices will continue to rise since there are still strong inflationary trends, especially on the exchange rate side", reads the weekly commentary on the market, which underlines that the change in prices last month is the third consecutive, with 0.8 percentage points compared to May.

Angola registered an inflation of 12.12 percent in July, which represents a decrease of 9.28 percentage points compared to that observed in the same period of 2022, reveals the National Consumer Price Index (IPCN), released at the end of the week last.

The IPCN of the Angolan National Institute of Statistics (INE) refers that comparing the current year-on-year change with that recorded in July, there is an acceleration of 0.87 percentage points.

In the reference period, the provinces that registered the lowest variation in prices were Lunda-Sul (0.95 percent), Cabinda (0.97 percent) and Cuando-Cubango (1.01 percent), while those that recorded greater variation in prices were Luanda (2.18 percent), Namibe (1.38 percent) and Cunene (1.36 percent).

The Health sector, among the 12 catalogued, was the one that recorded the highest price increase, with a variation of 2.05 percent, also highlighting the price increases verified in the Food and non-alcoholic beverages sectors, with 1. 91 percent, Miscellaneous goods and services with 1.86 percent, and Clothing and footwear with 1.69 percent.

The general level of the Consumer Price Index in the province of Luanda recorded a variation of 2.18 percent from June to July 2023.

Comparing the monthly variations (June to July 2023) there is an acceleration of 0.49 percentage points while, in year-on-year terms (July 2022 to July 2023), there is an acceleration in the current rate of change of 1.47 percentage points.

The category Food and non-alcoholic beverages registered the biggest increase in prices with 2.73 percent. Also worthy of note are the increases in prices verified in the categories Goods and miscellaneous services with 2.59 percent, Health with 2.45 percent, and Clothing and footwear with 2.09 percent.


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