Global inflation at 1.21% in March

Overall inflation stood at 1.21% in March this year, with 0.03 percentage points (p.p.) lower than in the previous period and 0.098 percentage points lower than in the same month in 2022.

Wholesale Price Index published by the National Statistics Institute (INE) states that imported products contributed to the “slight” increase in inflation with 0.72 percentage points or 59% and domestic products with 0.49 percentage points, corresponding to 41% of overall inflation.

The source put the year-on-year change for March at 15.18%, reporting a decrease of 15.92 percentage points compared to the previous period.

There is also growing year-on-year change tendency over the last three years, until March, reversing its direction from April 2022, the source added.

In March this year, the prices of national products increased 1.92% compared to February, and Section D – Manufacturing Industries registered the greatest price increase with 1.94%.

In the said period, the products with the highest price variation in this group were offal (4.17%), beer (3.81%), maize flour (3.34%), frozen horse mackerel (3.22%), wheat flour (2.78%), goat meat (2.57%), beef (2.52%), smoked catfish (2.46%), and wine (2.34%).

Other products include dried horse mackerel (2.33%), brandy (2.24%), gin (2.05%), mineral water (2.03%), pork (1.63%), soda pop (1.56%), roasted coffee (1.51%) and dried meat (1.50%).

The cumulative change in domestic products in March 2023 was 5.78%.

In March 2023, prices of domestic products increased by 1.92% compared to February, with Section D – manufacturing industries registering the highest price increase with 1.94%.

Prices of imported products rose by 0.96% over the previous month.

Influencing the price change were those set in Section A, such as agriculture, animal husbandry, hunting and forestry, with 1.23%.

The products that increased the most in prices were onions (2.23%), potatoes (1.68%), eggs (1.60%), maize grain (1.59%), cabbage (1.49%), garlic (1.32%), tomatoes (1.10%), peanuts and apples (1.00%) each, carrots (0.77%), pears (0.67%), lemons (0.62%) and brown beans with 0.59%.

The cumulative change in imported products in March 2023 was 2.83%, according to the INE report

Source: Angola Press News Agency (APNA)