Prices in Luanda rise 0.87 percent in October and 8.47 percent since January

13 November 2006

Lisbon, Portugal, 13 Nov – Consumer prices in Luanda increased 0.87 percent in October, with rises of 8.47 percent since the beginning of the year, Angola’s National Statistic Institute (INE) said Friday.

This was the second-highest monthly growth rate this year, after July, when the increase totaled 0.91 percent.

The inflation rate totaled 11.88 percent in October, which represents a fall of 0.11 percentage points in relation to the previous month, continuing a trend begun in mid-2000.

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

Last year, inflation totaled 18.53 percent, the lowest level ever recorded in Angola and Angola’s state budget points to total inflation of 10 percent for 2006. (macauhub)