Angola’s inflation rate totals less than 10 pct in September

30 October 2012

Angola’s rate of inflation in September totalled 9.65 percent, in a month in which prices rose 0.55 percent against August, the National Bank of Angola (BNA) said Monday in Luanda.

According to a statement from the central bank the categories of “food and non-alcoholic beverages,” “hotels, cafés and restaurants,” “clothing and footwear,” “health,” and “miscellaneous goods and services,” saw the greatest variations in price in September.

Interest rates remained stable and credit rose 2.60 percent in September and 17.19 percent since the beginning of the year, with credit provided in the national currency accounting for 55.40 percent of total credit granted.

The average rate of exchange for the kwanza against the US dollar was 95.42 at the end of September 2012, reflecting the stability seen since the beginning of the year.

The National Bank of Angola (BNA) also said that its Monetary Policy Committee had decided to keep the base interest rate in the country unchanged at 10.25 percent per year, as well as on the permanent liquidity and absorption facilities at 11.50 percent and 1.50 percent per year, respectively. (macauhub)