First quarter single-digit inflation in Angola

16 July 2013

Angola’s inflation rate stood at the single-digit figure of 9.11 percent in the first quarter of 2013, down 2.02 percentage points year-on-year, indicates the performance memorandum on Angolan government activity.

The document on the first quarter of the year reports that the consumer price index (CPI) for the city of Luanda posted an increase of 0.66 percent from February to March, versus 0.82 percent from January to February.

Cited by Angolan news agency Angop, the memorandum states that the money supply in kwanzas contracted during the first quarter, reflected by drops of 15.64 percent in circulating banknotes and coins and 7.79 percent in bank reserves.

Deposits in the Angolan financial system expanded by 1.81 percent to 3,616.017 billion kwanzas, influenced by the 3.02 percent increase in national currency deposits. (macauhub)