II trimester inflation hits 8, 19 percent

Luanda – Angola’s accumulated inflation hit 8, 19 percent in the II trimester of 2018, representing a significant lower percentage in relation to the prior data of (11, 94 percent) recorded in the same period.

According to the quarterly inflation report published by the Angola National Bank (BNA, Malanje recorded the highest level of inflation estimated at 7, 76 percent.

In the meantime, reads the report, the provinces of Bie, Cuando Cubango and Luanda recorded the lowest number of price swing, which revolved around 3,26%, 3,34% and 3,56%, respectively.

After an assessment of the behavior of the elements prone to create inflation, the inflation during the analyzed trimester reduced thanks to a lower pressure from the import, measured by the price index of the main trade partners of Angola.

The reduction was also due to the lower level of incertitude from the economic agents regarding the behavior of the exchange market, which enabled broader supply of import and locally produced foodstuff in the market, thanks to a larger availability of foreign currency.

The BNA report adds that the inflation forecast for the third quarter of 2018 are expected to be lower than the second quarter.

Source: Angola Press News Agency