Angola’s inflation rate drops to 12.12% in July 2023: key insights and sectoral analysis

In July, Angola experienced a 12.12% inflation rate, marking a decrease of 9.28 percentage points from the same period in 2022, according to the National Consumer Price Index (IPCN).

A recent consultation with the Angolan National Institute of Statistics (INE) revealed that when comparing the current year-over-year change to that of the previous July, there’s an acceleration of 0.87 percentage points.

During the aforementioned period, the provinces with the smallest price fluctuations included Lunda-Sul (0.95%), Cabinda (0.97%), and Cuando-Cubango (1.01%).

In contrast, the provinces with the most significant price variations were Luanda (2.18%), Namibe (1.38%), and Cunene (1.36%).

Out of the 12 sectors analyzed, the Health sector witnessed the highest price surge at 2.05%.

Other notable sectors with marked price increases were Food and Non-Alcoholic Beverages at 1.91%, Miscellaneous Goods and Services at 1.86%, and Apparel and Footwear at 1.69%.

In Luanda province, the heart of the nation’s capital, the Consumer Price Index showed a change of 2.18% between June and July 2023.

Comparing monthly variations (from June to July 2023), there’s an acceleration of 0.49 percentage points.

In a year-over-year comparison (from July 2022 to July 2023), there’s an acceleration in the current rate of change by 1.47 percentage points.

The Food and Non-Alcoholic Beverages category had the highest price increase at 2.73%.

Other sectors that stood out due to price hikes included Miscellaneous Goods and Services at 2.59%, Health at 2.45%, and Apparel and Footwear at 2.09%.

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