According to the expert, forecast errors and the effectiveness of the strategy to combat inflation contributed to the acceleration of inflation last November, both in the monthly (2.1 percent) and year-on-year (18.19 percent) variation.
"As for the forecast error, if compared with the Government's forecasts of 17 percent and the National Bank of Angola (BNA) of 19.5 percent end-of-period inflation, with the November figures, the conclusion that What can come is that there was an underestimation, more on the part of the Government than on the part of the BNA, since with these numbers inflation is expected to close the year above 20 percent", he stated.
Speaking to Lusa, the economist considered that the immediate effects of the significant increase in prices, which are taking place in Angola, "are exactly the reduction in families' ability to maintain their level of consumption".
"Since unfortunately the increase in prices in Angola is not accompanied in a proportional way by the increase in family wages, we are therefore saying that it is difficult for families to achieve the consumption pattern that they have been having as a result of this increase in prices" , he argued.
For companies "it is generally embarrassing (inflation), because the price adjustment process also imposes costs on them in changing a set of internal mechanisms, changes to catalogues, changes to contracts", he pointed out.
Prices in Angola registered an increase of 18.19 percent in November compared to the same period last year, rising 2.1 percent compared to October values, the National Statistics Institute (INE) announced on Wednesday.
The INE report states that the food and non-alcoholic beverages category "was the one that contributed most to the increase in the general price level, with 1.53 percentage points during the month of November".
"It is a fact and it is indisputable that the problem of inflation in Angola is largely due to the structural costs of the economy itself, we are saying that there are a set of challenges", highlighted Wilson Chimoco.
The economist pointed to the costs of transport, logistics, the production of goods in Angola and also imports as factors that "have drastically penalized" the evolution of prices in the country.
He defended the definition of a set of measures to reduce the "structural costs" of the country's economy, reduce bureaucracy, improve the business environment, and continuous investment in transport and logistics infrastructure.
Chicomo also listed investment in human capital as a determining factor for the evolution of economies.
"Because people with little training in dealing with the technology at their disposal, it is difficult for us to be able to produce at increasingly competitive prices that are capable of transforming the issue of inflation in our economy", warned the economist.
