April inflation rate was 1.0 per cent: NSA

15 May 2014 16:50pm
WINDHOEK, 15 MAY (NAMPA) - Fats and oils recorded the highest monthly price increases in the food and non-alcoholic beverages’ category for the month of April this year, the latest Namibia Consumer Price Index (NCPI) bulletin for April reveals.
The bulletin, as released by the Namibia Statistics Agency (NSA) on Thursday said, peanut butter recorded the highest average price, increasing from N.dollars 23.25 to N.dollars 24.52; followed by cooking fats, which increased from N.dollars 7.13 to N.dollars 8.01; margarine/fat spread (N.dollars 19.02 to 19.19); and cooking oil (N.dollars 28.82 to N.dollars 28.95).
This category contributed 24.7 per cent to the overall annual inflation rate for April 2014, followed by transport, which contributed 22.7 per cent; housing, water and electricity with 16.6 per cent; while the alcoholic beverages’ contribution stood at 14.9 per cent; and all other groups at 21.1 percent.
During the month of April 2014, the group of alcoholic beverages and tobacco recorded a monthly inflation rate of 2.9 per cent, compared to 0.8 per cent recorded in March 2014.
The monthly inflation rate for alcoholic beverages recorded an increase of 3.4 per cent, while tobacco recorded an increase of 1.0 per cent, compared to 0.7 per cent and 1.0 per cent, respectively a month earlier.
The April inflation rate stood at 1.0 per cent, representing an increase of 0.4 percentage points from 0.6 per cent recorded a month earlier.
During the period April 2013 to April 2014, high monthly inflation rates were observed in the months of April 2014 (1.0 per cent); January 2014 (0.9 per cent); with July 2013 and February 2014 both recording 0.7 per cent.
The months of May 2013 and December 2013 witnessed the lowest monthly inflation rates of 0.1 per cent.
Based on the All-Items Index, the annual inflation rate for April 2014 was estimated at 5.9 per cent, showing no change, as compared to 5.9 per cent recorded during the same period last year.
During the period April 2013 to April 2014, the annual inflation rate fluctuated between 4.4 and 6.2 per cent.
The month of June 2013 recorded the highest annual inflation rate of 6.2 per cent, with the lowest inflation rate of 4.4 per cent recorded in November 2013.
The NCPI encompasses all the expenditures on goods and services, which Namibian private households make.
It is compiled by comparing the prices of goods and services of the month under review with the price of those goods and services in December 2012.
More than 9 000 prices of goods and services are collected on a monthly basis from more than 900 retail outlets in eight localities.
(NAMPA)
MMT/ND/TK