Cost of living in Windhoek remains high: Thieme

09 Dec 2014 15:40pm
WINDHOEK, 09 DEC (NAMPA) – Almost every sector from agriculture, fishing, mining, construction to financial services suffered from some sort of industrial action in 2014.
In almost each case, the costs were enormous, Namibia Chamber of Commerce and Industry (NCCI) president Sven Thieme said during his organisation’s year-end gala dinner held for members and stakeholders on Monday.
He said the high cost of living induces a high demand for better pay and benefits, although employee relations, employee commitment, absence of management and equality and diversity are other significant factors.
Thieme further stated that reducing living costs and improving standards of living requires more food production, housing, clothing and entertainment.
This also means improving access to productive resources such as land, finance, energy, water and information and communication technology, in addition to access to markets.
He cited the Numbeo Living Expenses’ Index, which states that Windhoek is the seventh-most-expensive city to live in in Africa, and the 271st most-expensive city in the world out of 4 462 cities.
This Index uses New York in the United States of America as the base, with the city marking the index point of 100 for each of the sub-indices, which are used to measure living expensive.
According to that index, Windhoek rates 63.86 on the consumer price index, which means a basket of consumer goods are 36 per cent cheaper here than the same basket in New York.
Thieme said rent prices in Windhoek are 28 per cent higher than Cape Town, South Africa; while groceries’ prices in Windhoek are 25.1 per cent higher than Cape Town.
(NAMPA)
ANS/ND/TK