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Angola's inflation rate in July reached 22.17%

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According to data from the National Bureau of Statistics of Angola, the Angola National Consumer Price Index (IPCN) rose to 22.93% in July, a year-on-year increase of 5.69 percentage points.

In July, the price of "food and non-alcoholic beverages" rose the most, reaching 1.02 percentage points, followed by the category of "goods and other services" (0.14 points), clothing, footwear (0.13) and "furniture, home appliances and maintenance" (0.12).

The statistics also specify the inflation rate of 24 selected products in the shopping basket. They are the largest contributors to the rate of change in the price index. Although they account for only 7% of the total, they account for 45.88% of the rate of inflation.

Among them, the change of CMB taxi, tomato sauce, skin care products, rice, soybean oil, chicken, beef, onion, salt, bread, etc. is greater than 2%.

From June to July 2020, the monthly inflation rate has changed by 1.78%. (In Luanda Province, the inflation rate from June to July 2020 was 1.83%, which was about 0.13 percentage points lower than the previous period). The year-on-year increase was 22.17%, an increase of 4.58 percentage points over the same period last year.

The goods and services with the highest income are the "hotels, cafes and restaurants" category (2.82%), "miscellaneous goods and services" (2.09%), "food and non-alcoholic beverages" (2.08%) and " Alcoholic beverages and tobacco" (2.03%).