Angola: Inflation eases to a seven-month low in November
Latest reading: Inflation fell to 28.4% in November from October’s 29.2%. November’s figure marked a seven-month low and neared the Central Bank’s forecast of 27.0% for the end-year inflation. Price pressures have continued to be tempered by the Bank’s tight monetary policy stance, improved consumer-goods supply and, over the past month, renewed stability in the kwanza. That said, the scaling back of petrol subsidies likely stemmed the overall decline in inflation.
Meanwhile, the trend pointed up, with annual average inflation rising to 27.7% in November (October: 26.9%).
Lastly, consumer prices increased 1.61% over the previous month in November, which was above the 1.55% increase logged in October.
Panelist insight: Oxford Economics’ Gerrit van Rooyen commented:
“We maintain our view that inflation will continue to subside during the rest of 2024 and into 2025, thanks to favourable base effects and softer global commodity prices. Still, the weakening of the kwanza in H2 2024 to over Kz900/$ will slow down disinflation in 2025 somewhat.”