16 Sep 2018 10:30am
WINDHOEK, 16 SEP (NAMPA) - The annual inflation levels for electricity, gas and fuel surged due to increased price movements in petrol and diesel for the second quarter of 2018, the latest Namibia Consumer Price Index (NCPI) indicated.
The index, released by the Namibia Statistics Agency on Thursday, shows that the inflation rate for petrol and diesel rose from -3,4 per cent in August 2017 to 22,6 per cent in August 2018.
Electricity and gas also showed an increased inflation rate of 13,2 per cent last month from 1,8 per cent recorded for the same period in 2017.
The annual inflation rate for subgroups under housing, water and electricity for rental payments for dwellings for both owners and tenants rose by 2,6 per cent, while water supply, sewerage service and refuse collection increased by 6,2 per cent.
Annual inflation for alcoholic beverages and tobacco also went up as a result of increases in the level of prices of alcohol beverages, which increased to 5,8 per cent in August 2018 compared to 4,5 per cent in the same period last year.
As a result, alcoholic beverages and tobacco saw an increase in annual inflation from 4,8 per cent in August 2017 to 5,4 per cent last month.
Meanwhile, annual inflation for food and non-alcoholic beverages slowed to 2,7 per cent last month compared to 4,6 per cent in August 2017, a decrease of 1,9 percentage points.
The slowdown emanated from declines registered in meat, coffee, tea and cocoa, mineral waters, soft drinks and juices, fish, milk, eggs, cheese and sugar.