In 2012 Angola posts lowest rate of inflation since the end of the civil war

In 2012 Angola posted a rate of inflation of 9.02 percent, the “lowest” since the end of the civil war in 2002 the National Bank of Angola (BNA) said in a statement issued in Luanda.

The document, which followed the monthly meeting of the central bank’s Monetary Policy Committee, said that in December 2012 the monthly rate of inflation was 0.99 percent and that the categories of “food and non-alcoholic beverages,” “miscellaneous goods and services,” and “clothing and footwear,” saw the greatest price variations.

“Credit to the economy rose by 1.12 percent in December continuing with the trend that had been seen in the previous months,” the statement said.
The average rate of exchange for the kwanza against the US dollar was 95.826 at the end of December and in 2012 there was a “slight depreciation” of 0.57 percent that the BNA said was evidence of the “stability” of Angola’s currency.
In relation to the decisions made by the Monetary Policy Committee, the statement noted the drop in the base interest rate, known as the BNA Rate, which fell from 10.25 percent to 10 percent per year.

In the same statement, BNA said that the Interest Rate on the Permanent Loan Liquidity Facility had been dropped from 11.5 percent to 11.25 percent per year and of the Permanent Deposit Facility from 1.5 percent to 1.25 percent per year. (macauhub)