In September, the National Consumer Price Index reported that Angola’s inflation rate dropped to 15.01%, marking a 3.15% decrease from the previous year.
The INE data also shows a 1.47% acceleration from August. In regional terms, Bengo, Moxico, and Benguela had the lowest price changes.
They recorded rates of 1.15%, 1.17%, and 1.24% respectively. On the other hand, Luanda, Huíla, and Cabinda saw the highest changes with rates of 2.95%, 1.68%, and 1.58%.
Among sectors, Education saw the most price increase at 4.08%. Transport followed at 2.70%, then Health at 2.39%, and Food and Non-Alcoholic Beverages at 2.25%.
In Luanda, the capital, prices went up by 2.95% from August to September. The Food and Non-Alcoholic Beverages sector led the rise, increasing by 1.31% in September.
Other sectors like Miscellaneous Goods and Services and Transport each saw a 0.15% increase. Education, Health, and Apparel and Footwear followed with a 0.09% rise.
The rest contributed less than 0.09%. Angola faces economic challenges, highlighted by this latest inflation data.
The capital, Luanda, struggles more with the cost of living. The country is trying to depend less on oil.
Sectors like Education and Health are becoming more expensive. Historically, Angola has seen high inflation during unstable times.
These new numbers could shape future financial policies like interest rates. Overall, the report offers valuable insights into Angola’s current economic state.
Background
Angola has long grappled with high inflation, especially in times of economic downturn. The 15.01% rate, although high, is lower than the same period last year.
This suggests some economic recovery. Historically, Angola has relied heavily on oil exports, which makes its economy vulnerable to global oil prices.
A focus on diversification is evident, but sectors like Education and Health becoming more expensive can be a setback.
The inflation report could impact decisions about interest rates and other financial policies. Keeping an eye on inflation will be key for policymakers to balance growth and stability.
This data acts as a valuable gauge for understanding not just inflation but also broader economic health.