Is Angola’s oil bubble about to burst?

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In terms of forecast, inflation is expected to be around 18 per cent at the end of 2022. The trend of price deceleration in the economy is expected to continue. However, according to bank of Angola the prolongation of the conflict in Eastern Europe and deceleration of the world economy with a negative impact on oil prices can be identified as possible risks. The International Monetary Fund (IMF), in its report “World Economic Outlook update” of July 2022, signaled that inflation has been above expectations around the world, especially in the USA and in the main European economies, which has triggered more restrictive monetary policies. Intensified unprecedented inflationary pressure was persistently driven by the rise of energy and food commodity prices. In the second quarter, the annual headline and underlying inflation rates in USA stood at 9.1 per cent and 5.9 per cent. This was above expectations which were around 8.8 per cent and 5.7 per cent respectively. This was a result of the increase in energy prices by 41.6 per cent and food prices which increased by 10.4 per cent according to Bloomberg. This level represents the highest in the last four decades. As for annual inflation in the

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Albert is a Chemical Technologist and Author. He is passionate about mining, stock market investing, Fintech and Edutech.

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