Inflation in Angola accelerates in August to 13.99 pct

16 September 2010

Luanda, Angola, 16 Sept – The rate of inflation in Angola accelerated to 13.99 percent in August after being 13.7 percent in July due to the rise in price of food products and transport, Angola’s National Statistic Institute (INE) said Tuesday in Luanda.

In monthly terms, the Consumer Price Index (IPC) in August posted growth of 1.12 percent as compared to 1.14 percent in July.

In a statement, INE said that in August the price of food and non-alcoholic beverages had posted the highest rise of all categories, followed by rises in the categories of transport, health, hotels and restaurants.

Following a 50 percent rise in the price of fuel, the government of Angola said that the CPI this month was expected to rise sharply, which would lead to inflation of over 13 percent this year and over 9 percent in 2011, which were the targets of the revised 2010 State Budget. (macauhub)