Inflation rate exceeds 35 percent in July

The inflation rate in Angola stood at 35.30 percent in July, while prices increased 4.04 percent year-on-year, according to a statement released recently in Luanda by the National Bank of Angola (BNA).
The BNA statement, which included the main decisions of the meeting of the Monetary Policy Committee, said particular attention had been paid to recent price trends within the economy, which have been increasing due to a drop in supply because of reduced exports.
The categories of Food and Non-Alcoholic Beverages, Miscellaneous Goods and Services and Health were the ones that showed the biggest variation and contributed most to inflation in the month under review, the statement said.
In July, credit to the economy increased 2.1 percent year on year and gross credit to the central government increased by 4.28 percent, while government deposits in the banking system increased by 4.21 percent.
The statement issued by the central bank also said that taking into account the development of the main macroeconomic indicators, the Monetary Policy Committee decided to keep all benchmark interest rates unchanged, including the BNA Rate that remained at 16 percent.