Angola’s annual inflation rate has fallen below 10 percent for the first time in nearly 11 years, strengthening signs that price pressures are easing after years of high inflation and giving the central bank more room to consider further interest rate cuts.
Inflation slowed to 9.33 percent in July from 10.11 percent in June, according to the National Statistics Institute. The latest reading is close to the lowest level recorded in the country’s consumer price index series since 2015.
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The July figure represents a 0.78 percentage point decline from June and is about 10 percentage points lower than a year earlier, extending a sustained period of easing price pressures.
The statistics agency attributed the continued slowdown largely to the stability of the kwanza and improved domestic supplies of essential goods. The July reading marked the 24th consecutive month of declining annual inflation.
