The National Bank of Angola (BNA) announced on Thursday (14) a downward revision of the inflation target for 2026, from 13.5% to 11.5%, while maintaining the forecast for Gross Domestic Product (GDP) growth at 3.5%.
According to Lusa, the announcement was made by BNA Governor Manuel Tiago Dias at the conclusion of the 129th Ordinary Meeting of the Monetary Policy Committee.
The governor noted that year-over-year inflation has continued on a downward trajectory, standing at 11.58% in April, compared to 12.42% the previous month, a slowdown observed in all provinces of the country.
“With regard to the inflation trajectory and given that no concerning inflationary pressures are anticipated in the coming months, the Monetary Policy Committee has revised its inflation rate projection downward to 11.5% for 2026, while maintaining its GDP growth forecast at 3.5%,” said Manuel Tiago Dias.
He added that the Monetary Policy Committee will continue to prudently monitor internal and external risks that could influence the inflation trajectory and domestic macroeconomic stability.
When asked by journalists about the feasibility of the target, at a time when tensions in the Middle East remain high, Manuel Tiago Dias clarified that the downward revision does not mean that prices are falling, but rather that the pace of increase is slowing.
“What we said was that prices rose 0.58% in April (…) we are not saying that the general price level fell that month; we said it rose 0.58% for the month, compared to the 0.55% increase observed the previous month,” he explained.
The governor emphasized that, from a year-over-year perspective—which measures inflation over the past 12 months—the trend is clearly downward, noting that monthly price growth rates were around 2% in 2024 and are now at 0.58%.
“If we consider a 12-month time horizon, it is clear that, within that period, we estimate that by the end of the year we could reach an inflation rate of 11.5%,” he emphasized.
