Angolan inflation passes government target for 2006 in November

12 December 2006

Luanda, Angola, 12 Dec – Consumer prices in Luanda increased 1.43 percent in November, the largest monthly change for the year, taking the inflation rate over the figure projected by the government for 2006, Angola’s National Statistic Institute (INE) said Monday.

INE’s figures showed that prices had risen a total of 10.03 percent since January, exceeding the 10 percent target set by the Luanda government for the whole of 2006.

Year on year inflation in November stood at 12.15 percent, which was an increase of 0.26 percentage points against the previous month.

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. (macauhub)