Recommendation, page-1240

• The annual inflation rate in Angola accelerated for the 13^th straight month to 30 percent in May 2024, the highest inflation rate since June 2017. The latest inflation figure reflects the impact of removing the fuel subsidy and a weaker Angolan Kwanza (AOA). In particular, prices for transportation, healthcare, and miscellaneous goods and services registered notable rises. The National Bank of Angola has been limiting foreign exchange trading, and banks have reported difficulties in purchasing dollars outside of an increasingly narrow exchange rate margin since the beginning of the second half of 2023. This continuous rise in inflation will likely affect poor and very poor households’ purchasing capacity and ability to meet their minimum food and non-food needs.

Minimum wage - labour increased 55% in Angola in 2024

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