Angola’s annual inflation rate surged to 12.12% in July, up from 11.25% in the previous month, mainly driven by a sharp depreciation of the Angolan kwanza. Also, price pressures are rising following the government’s decision to lower a fuel subsidy in June, which led to a sharp increase in gasoline prices. Consumer prices rose 1.6% MoM in July after rising by 1.41% in June.