Angolan central bank raised its benchmark interest rate for a second time this year in a bid to curb inflation pressures, amid declines in global oil prices.

The benchmark lending rate increased by 50 basis points to 9.75 percent, Angola’s National Bank announced on Monday, while the standing lending facility rate also increased by 50 basis points to 10.5 percent.

News agency Reuters quoted the central bank saying in a statement the measures would “reduce price volatility” in the oil-producing nation’s economy.

Inflation in Angola accelerated to 8.86 percent in May from 8.23 percent in April, according to the report.

The last time the central bank raised its benchmark lending rate was in March, when it was increased by 25 basis points.

News agency Bloomberg reported global crude prices had declined by more than 40 percent in the past 12 months, while the Angolan currency, kwanza, has also weakened 15 percent against the US dollar so far this year.