Angola’s inflation rate reached 29.93% in September 2024, a sharp increase of 14.92 percentage points compared to the same period in 2023, according to data from the National Institute of Statistics (INE).
After four consecutive months of declining inflation, monthly inflation saw a slight uptick, reversing the downward trend that began in May 2024. The Consumer Price Index (CPI) for September showed a 1.63% rise compared to August, representing a modest increase of 0.02 percentage points.
Several provinces experienced the highest monthly price variations, with Bengo, Cabinda, and Namibe leading the list. The data also revealed that certain sectors contributed significantly to the overall inflation in September. Education saw the largest price increase at 4.10%, followed by leisure, recreation, and culture at 2.25%, hotels, cafeterias, and restaurants at 2.23%, and health services at 2.21%.
The report highlighted that the food and non-alcoholic beverages sector had the most substantial impact on the general price level, contributing one percentage point to the overall inflation. Other notable contributors were miscellaneous goods and services, which added 0.10 percentage points, while health and education sectors each contributed 0.09 percentage points. Additionally, clothing, footwear, and the hospitality sector—including hotels, cafes, and restaurants—each contributed 0.07 percentage points to the inflation rate.
This surge in inflation comes amid a broader context of economic challenges for Angola, as rising prices continue to affect essential goods and services, impacting both consumers and the national economy.