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Angola inflation increases in October

Staff Writer |
Consumer prices in the province of Luanda rose 2.98% in October from the previous month, coming in above September’s 2.54% month-on-month increase.

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According to the National Statistical Institute (Instituto Nacional de Estatística), October’s print marks the sharpest increase since August 2016 and was driven by higher prices across the 12 components of the index.

Inflation increased from 27.5% in September to 29.0% in October. Annual average inflation, however, declined from 35.5% in September to 34.6% in October.

This confirms that price pressures are declining despite the month-on-month increase and demonstrates that the National Bank of Angola’s (BNA) significant tightening cycle in 2016 is bearing fruit.

FocusEconomics Consensus Forecast panelists expect inflation of 18.6% in 2018, which is up 0.7 percentage points from last month’s projection. For 2019, the panel foresees inflation of 13.6%.

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