June inflation rate decreases by -0.2 per cent: NSA

16 Jul 2013 07:40
WINDHOEK, 16 JUL (NAMPA) - The annual inflation rate for June 2013 stood at 6.2 per cent compared to 5.6 per cent recorded in June 2012.
This was revealed in the Namibia Statistics Agency (NSA)'s Namibia Consumer Price Index (CPI) Bulletin of June 2013 issued to Nampa on Tuesday.
The bulletin noted that the all items index for June 2013 dropped by 0.3 percentage points from 203.5 recorded in May to 203.2.
?This decrease resulted in a monthly inflation rate of -0.2 per cent,? said the bulletin.
The food and non-alcoholic beverages index for June 2013 declined to 239.8 from 241.0 recorded in May 2013, resulting in a monthly decline of 1.2 percentage points.
According to the bulletin, this decrease was due to decreases recorded in the sub-groups comprising milk, cheese and eggs (2.3 per cent); fruit (2.2 per cent); vegetables including potatoes and other tubers (2.0 per cent); food (0.6 per cent); bread and cereals (0.2 per cent) and food products not elsewhere classified (0.1 per cent).
The milk, cheese and eggs index for June 2013 was 237.8, registering a monthly decrease of 5.5 percentage points over the month of May 2013 index of 243.3. This decrease occurred mainly as a result of monthly price decreases for items such as whole milk, cheese, cream, yoghurt/clotted/cultured milk and preserved milk.
?The monthly and annual inflation rates for the month of June 2013 for goods were estimated at -0.7 per cent and 4.6 per cent as compared to those for services which stood at 0.8 per cent and 9.0 per cent respectively,? said the bulletin.
It added that the increase in prices for services was due to increases recorded in the categories of services for the maintenance and repair of dwellings; car services and repair charges and holiday packages.
This indicates that prices of services on a monthly basis have accelerated much faster than those for goods for the period of May to June 2013.
The annual inflation rates for the major groups comprising the Namibia CPI were food and non-alcoholic beverages at 7.6 per cent; housing, water, electricity, gas and other fuels (9.7 per cent) and transport (3.0 per cent).
The bulletin said the corresponding rates registered during the same period last year were 6.7 per cent, 4.4 per cent and 7.9 per cent respectively, while the average monthly and average annual inflation rates for the period January to June 2013 stood at 0.4 per cent and 6.3 per cent as compared to 0.5 per cent and 6.5 per cent estimated during the same period last year.