Monthly inflation slowed in December 2018

15 Jan 2019 14:40pm
WINDHOEK, 15 JAN (NAMPA) - Month-to-month inflation decreased to -0,2 per cent in December 2018 from 0,7 per cent the previous month, the Namibia Consumer Price Index (NCPI) shows.
According to the NCPI released by the Namibia Statistics Agency on Tuesday, monthly price levels in the prices of goods and services in the categories of transport, alcoholic beverage and tobacco, hotels, cafes and restaurants and household equipment affected the slow-down in inflation.
The monthly inflation rate for food and non-alcoholic beverages slowed to 0,5 per cent compared to 1,5 per cent in November 2018, while alcoholic beverages and tobacco stood at -0,6 per cent compared to one per cent the previous month.
The slowdown emanated from declines registered in fish, milk, cheese and eggs, sugar, honey, syrups and jam, and alcoholic beverages.
The monthly inflation rate for housing, water, electricity, gas and other fuels remained unchanged at zero per cent.
Transport recorded a decline of 3,7 percentage points, registering a -1,8 per cent monthly inflation rate compared to 1,9 per cent.
Inflation is calculated based on a basket of goods and services, which contains 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.
Namibia's inflation, however, is largely determined by three categories of the overall NCPI basket: housing, water, electricity, gas and other fuels; food and non-alcoholic beverages; as well as transport, which cumulatively make up just under 60 per cent of the total inflation basket.