Annual inflation rate increased in March
11 Apr 2019 18:40pm
WINDHOEK, 11 APR (NAMPA) - The annual inflation rate increased to 4,5 per cent in March 2019 compared to 3,5 per cent recorded for the same period in 2018, according to the latest Namibia Consumer Price Index (NCPI).
According to the NCPI released by the Namibia Statistics Agency (NSA) on Thursday, annual inflation went up because of increases in the categories of clothing and footwear; recreation and culture; food and non-alcoholic beverages; alcoholic beverages and tobacco; hotels, cafés and restaurants; education and communication.
Namibia's inflation 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.
The annual inflation rate for food and non-alcoholic beverages rose from 2,7 per cent to 5,8 per cent and alcoholic beverages and tobacco saw an increase from 4,3 per cent to 6,7 per cent as a result of annual price increases recorded in all the sub-groups.
Transport also went up to 7 per cent from 5,4 per cent which came from the increase in the price levels of public transportation service.
The annual inflation rate for housing, water, electricity, gas and other fuels stood at 2,1 per cent, down from 3,3 per cent during the same period last year. The decline was a result of decreases in all sub-components of this group, except regular maintenance and repair of dwelling.