13 Dec 2018 16:40pm
WINDHOEK, 13 DEC (NAMPA) - The month-to-month inflation rate increased to 0,7 per cent in November 2018 from 0,4 per cent the previous month, the latest Namibia Consumer Price Index (NCPI) shows.
According to the NCPI released by the Namibia Statistics Agency (NSA) on Thursday, the monthly inflation went up due to increased prices in the food and non-alcoholic beverages and transport categories.
The inflation rate for food and non-alcoholic beverages rose by 0,9 per cent from 0,6 per cent in October to 1,5 per cent as a result of a surge in the price levels of fruit and vegetables, including potatoes and other tubes.
Vegetables, including potatoes and other tubes, rose by 6,1 per cent from 2,8 per cent to 8,9 per cent, while fruit rose by 1,8 per cent to 7,9 per cent from 6,1 per cent.
Transport went up from 1,2 per cent in October to 1,9 per cent last month, due to significant increases in public transport services and operation of personal transport equipment.
Price levels for housing, water, electricity, gas and other fuels remained unchanged for the period under review, while the overall average monthly inflation rate from January 2018 to November 2018 slightly increased to 0,5 per cent compared to 0,4 per cent during the same period in 2017.
Furthermore, the year-to-year inflation rate increased from 5,2 per cent in November 2017 to 5,6 per cent last month.
Inflation is calculated based on a basket of goods and services, which contain a representative sample of the goods and or services commonly consumed in a country.
These are weighted in accordance with the relative percentage of expenditure selected 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.