FX.co ★ Inflation on the Rise in Angola: CPI Reaches 21.99% in January 2024

Angola is experiencing a surge in inflation rates, with the Consumer Price Index (CPI) reaching 21.99% in January 2024. This marks a significant increase from the previous indicator of 20.01% in December 2023. The data, which was updated on 14 February 2024, reveals a concerning trend for the country's economy.

The CPI is a measure of the average change in price over time of goods and services consumed by households. In this case, the comparison period is year-over-year, meaning that the current indicator is compared to the same month a year ago.

The rise in inflation can have a detrimental impact on the purchasing power of consumers, as the cost of goods and services becomes more expensive. It also puts pressure on businesses, who may need to increase prices to maintain profitability. Economists will be closely monitoring the situation in Angola to assess the potential impact on the overall economy and take necessary measures to mitigate the effects of rising inflation.