Monthly inflation slowed to 3,4 per cent in March
15 Apr 2015 15:50pm
WINDHOEK, 15 APR (NAMPA) The annual inflation rate for March 2015 slowed down to 3.4 per cent from 3.6 per cent a month earlier.
This drop mainly resulted from transport inflation, which decreased to 3.7 per cent during the month under review compared to 7.4 per cent recorded in the same period last year.
According to the Namibia Consumer Price Index (NCPI) released on Wednesday, on a monthly basis, the general level of prices in Namibia moderately increased by 0.4 percentage points, after a decline of 0.2 percentage points in the previous month.
The increase in monthly inflation was mainly brought about by increases in the prices of goods and services in all groups of the consumption basket with the exception of Communication, which declined by 0.1 per cent.
Inflation in the groups of Communication (0.1 per cent), Clothing and footwear (1.3 per cent), Food and non- alcoholic beverages (5.5 per cent) and Miscellaneous goods and services (6.4 per cent) also slowed during the month of March 2015 compared to the preceding month.
Inflation is calculated based on a basket of goods and services, containing a representative sample of the goods and/or services commonly consumed in a country, and weighted in accordance to the relative percentage of expenditure allotted to each of the said goods at household level.
The price of these goods and services are then tracked over time, to illustrate the change in the cost of living over time.