Angola’s Consumer Prices Up in June

By Xinhua 

July 14, 2023

The national consumer price index (IPCN) of Angola, a main gauge of inflation, rose 11.25 percent year on year in June, and 1.41 percent on a monthly basis, according to a report released by the country’s National Institute of Statistics (INE) Wednesday.

The IPCN report, which tracks price fluctuations of goods and services in Angola, indicated that the 1.41 percent monthly increase in June is the highest since April 2022. Throughout the past year, the monthly IPCN variation rates have remained below 1 percent.

Among the expenditure categories examined in the report, transportation experienced the largest price increase, with a monthly rise of 2.71 percent.

Other significant increases were observed in healthcare, clothing and footwear, and food and non-alcoholic beverages, which saw respective increases of 2.08 percent, 1.53 percent, and 1.46 percent, respectively.

Luanda, the capital of Angola, showed the highest monthly IPCN variation.

On June 1, Angola announced an 87.5 percent increase in gasoline prices and revealed plans to gradually phase out fuel subsidies.