Angolan inflation rate stands at 14.76 pct at end of 1st quarter, but likely to fall

21 April 2011

Luanda, Angola, 21 April – Angola’s rate of inflation at the end of March stood at 14.76 percent, which was slightly below the 15.31 percent rate at the end of 2010, the governor of the Bank of Angola (BNA), José Massano said in Luanda Wednesday.

During a meeting organised by the government to summarise government activity in the first quarter, Massano said that the figure confirmed the downward trend that had been seen since November, 2010.

Massano aid that last year the government had started reducing base rates, had introduced a permanent liquidity facility that now stood at 16.6 percent, to ensure that one-off requirements by financial operators can be immediately met.

According to Massano, interest rates remain at a level that the government still considers too high for the objectives it has.

At the same meeting, the minister of State and head of the civil house of the Angolan presidency, Carlos Feijó said that the government was managing to control levels of inflation and that by the end of the year inflation was expected to drop to 12 percent. (macauhub)