Angola's annual inflation rate fell to 9.33% in July, dropping below double digits for the first time since the National Consumer Price Index (IPCN) series began in 2015, according to the National Statistics Institute (INE).
According to an INE press release cited by Lusa, the July year-on-year rate represents a deceleration of 0.78 percentage points compared with the previous month and a decline of 10.15 percentage points relative to the same period last year, sustaining a consistent downward trend.
This marks the first time since the statistical series was launched in 2015 that Angola's annual inflation rate has fallen below 10%.
Six provinces, however, continue to record double-digit inflation rates. Cabinda posted the highest in the country at 13.09%, followed by Malanje at 12.01% and Lunda Sul at 11.40%.
At the other end of the scale, Cuanza Norte recorded the lowest rate at 6.00%, followed by Huambo at 6.59% and Cunene at 6.86%.
By expenditure category, education recorded the sharpest price increase, with an annual variation of 25.24%. Food and non-alcoholic beverages followed at 10.4%, with housing, water, electricity and fuels at 10.17%, and health at 10.16%.
The smallest price increases were recorded in transport at 3.65%, leisure, recreation and culture at 4.73%, and hotels, cafés and restaurants at 5.40%.
The National Consumer Price Index, which measures price movements for a basket of goods and services across the entire national territory, has been compiled systematically since January 2015, covering all 18 provinces.
The index traces its origins to the Consumer Price Index created in 1991, which was initially limited to Luanda, according to methodological notes from the National Statistics Institute.
The CPI data collection system ensures representativeness of retail outlets across the country, based on a sample of 1,193 commercial establishments and markets.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/?p=528603
