"Due to a higher-than-expected inflation rate in recent months, we should raise our average inflation forecast in 2021 to close to 26 percent, compared with the current forecast of 25.2 percent," he reads. comment on the evolution of prices in Angola in October, in which they recall that the forecast for the increase in prices for next year is at 16.9 percent.
"We hope that the correction in the high global price of raw materials and the base effect will help to moderate inflation to a growth of less than 20 percent in 2022", added the analysts in the note sent to clients, which Lusa had access to.
Inflation in Angola rose 26.87 percent in October this year compared to the same period in 2020, also accelerating 2.06 percent compared to the change registered in September, announced the National Institute of Statistics of Angola last Thursday.
"The year-on-year variation is 26.87 percent, recording an increase of 2.53 percentage points compared to the same period of the previous year (October 2020)", reads the note released this Wednesday, in which it is added that, "comparing the current year-on-year change with that registered in the previous month, there is an acceleration of 0.30 percentage points".
In the comment sent this Wednesday to clients, Oxford Economics Africa says that "there was no relief in the rise in food prices, which was the main reason for the increase in global inflation over the last year" and points out that "due to the strong dependence on imported goods, the high prices still reflect the impact of the sharp devaluation of the kwanza last year."
