Prices in Angola show biggest hike since September 2018

Prices in Angola show biggest hike since September 2018

Jornal de Angola

Prices in Angola increased by 1.52% between June and July 2019, the highest since September 2018, according to a monthly report by the Angolan National Statistics Institute (INE) released on Tuesday.

According to the National Consumer Price Index (IPCN) Quick Fact Sheet, monthly inflation increased compared to the 1.08% reported in May-June 2019, with the cumulative 12-month figure reaching 17.24%.

The IPCN for June-July 2019 is the highest since the INE reported a 2.69% price increase in September 2018.

The June-July increase also boosted the 12-month cumulative inflation from 16.94% to 17.24%, which is the first increase of this index in 2019.

Over 8%

The document also states that cumulative inflation in the first seven months of the year stands at 8.29%.

With 3.53%, the 'Housing, Water, Electricity and Fuel' segment had the highest price increase.

Other segments with significant increases include 'Clothing & Footwear' (1.58%), 'Health' (1.53%), 'Miscellaneous Goods & Services' (1.50%), 'Food & Non-Alcoholic Beverages' (1.39%), and 'Leisure, Recreation and Culture' (1.36%).

State budget forecasts 15% inflation

According to the INE, the Angolan regions with the largest increase were Namibe (1.82%), Kwanza Norte (1.75%), Malange (1.74%), Benguela (1.69%) and Lunda Norte (1.60%).

On the other hand, the provinces with the smallest inflation rates were Zaire (1.10%), Bié (1.13%), Uige (1.25%), Cabinda (1.29%) and Cuando Cubango (1.30%).

The 2019 State Budget forecasts a 12-month inflation rate of 15%.

In 2016, Angola's 12-month inflation rate stood at 41.12%, dropping to 23.67% in 2017 and 18.60% in 2018.