Angola’s finance minister noted that the central bank is firmly focused on controlling high inflation. The annual inflation rate in Angola, a net importer, reached a 17-month peak of 20% in December. The central bank increased its key interest rate to 18% in November, the first hike in over two years, in response to intensified inflationary pressures following subsidy cuts and kwanza devaluation. Unofficial reports suggest that Angola’s inflation rate might be over 30% this year.