Inflation swings upward from May to June 2023

The National Consumer Price Index (IPCN) registered a 1.41 percent inflation rate from May to June 2023, the National Statistics Institute (INE) announced Thursday.

According to the IPCN Rapid Information Sheet (FIR) that ANGOP had access, comparing the monthly variations (May to June 2023) inflation rose 0.46 percent.

INE data say the year-on-year change stood at 11.25% decreasing 11.71 percent compared to June 2022. It adds that comparing the current year-on-year change with that recorded in the previous month, there is a 0.63 percent inflation rise.

Data shows that from June 2022 to June 2023, inflation rose 0.57 percent.

According to the IPCN, the provinces that recorded the lowest price variation were Cabinda with 0.90%, Lunda Sul with 0.92% and Moxico with 0.94%.

The provinces that registered the highest price variation were Luanda with 1.69%, Lunda Norte with 1.50% and Namibe with 1.35%.

As regards price hike, data show that the Transport sector was the one that registered the highest price increase, with a variation of 2.71%.

Also noteworthy are the price increases in “Health” with 2.08%, “Clothing and footwear” with 1.53% and “Food and non-alcoholic beverages” with 1.46%.

INE says the “Food and non-alcoholic beverages” contributed the most to the increase in general price rate with 0.85 percent during the month of June, followed by “Transportation” with 0.15 percent, “goods and services” with 0.12 percent and “Health” with 0.08 percent.

The remaining groups contributed to inflation rise at a level of 0.08 percent.

Source: Angola Press News Agency (APNA)