Angola: Inflation comes in at highest level since June 2017 in September
Luanda-province consumer prices rose 2.34% in September over the previous month, largely in line with the 2.30% rise logged in August. September’s figure was the highest reading since March and came on the back of notable price increases for food and non-alcoholic drinks, and alcoholic drinks and tobacco.
Luanda-province inflation increased to 30.2% in September, following August’s 29.7%. September’s reading was the highest inflation rate since June 2017.
Analysts at the EIU added:
“With supply-side price pressures continuing, inflation will stay high, averaging 24.9% in 2021. We expect annual inflation to slow over the remainder of the forecast period as supply-side pressures ease. However, the eventual reduction in several subsidies, such as those for electricity and fuel, combined with currency depreciation, will keep prices fairly high.”