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Angola’s annual inflation for Jun ’23 rose to 11.25%, up from 10.62% in May ’23 but down from 22.96% in Jun ’22. This acceleration compared to May is driven by food and non-alcoholic beverages, contributing 5.66%pts to the Jun ’23 print. Monthly inflation accelerated to 1.41% from 0.95% in May. The Jun ‘23 CPI print marks the second consecutive month of acceleration, largely due to the weakness of the Kwanza against the dollar and the recent removal of fuel subsidies.