Prices in Angola rise 0.77 percent in June, average inflation falls to 12.93 percent

12 July 2006

Lisbon, Portugal, 12 July – Consumer prices in Luanda increased 0.77 percent in June, with rises since 4.86 percent since the beginning of the year, Angola’s National Statistic Institute (INE) said.

This was the second lowest monthly growth rate this year, after February, when the increase totaled 0.71 percent.

The inflation rate totaled 12.93 percent in June, which represents a fall of 0.27 percent in relation to the previous month, continuing a trend begun in mid-2000.

The consumer price index drawn up by INE is based on a basket of 24 goods, and every month some 14,700 prices are checked in several stores and markets in the Angolan capital.

The inflation rate in Luanda has fallen sharply over the last few years, particularly since 2001, a year in which it totaled 116 percent.

In 2003 inflation fell to two digits for the first time, reaching 76.5 percent, falling to 31.02 percent in the following year.

Last year, inflation totaled 18.53 percent, the lowest level ever recorded in Angola.

For this year the government expects inflation to total 10 percent. (macauhub)