Annual inflation increases to 6.7%

The annual inflation rate for April 2017 increased slightly to 6.7% as compared to 6.6% recorded in April 2016, according to the country’s statistics agency.

Namibia Statistic Agency this week released the April 2017 Namibia Namibia Consumer Price Index (CPI)Bulletin, in which Statistician General, Alex Shimuafeni highlighted and said based on the April 2017 price movements the annual inflation rate increased slightly.

“During the month of April 2017, the main drivers of annual inflation rate were in the group of Housing, water, electricity, gas and other fuels (9.4%), Hotels, cafés and restaurants (8.3%), Education (7.8%), Recreation and culture (6.9%), Transport (6.9%) and Miscellaneous goods and services (6.1%)”, he said.

According to him on a monthly basis the inflation increased from 0.1 percent recorded in March to 0.3 percent in April. “The monthly and annual inflation rates for Goods were estimated at 0.3 and 5.6 % respectively, while those for Services stood at 0.3 and 8.2%respectively,” he said.

Meanwhile, Shimuafeni said the statistics give an indication that on annual basis the average prices of Services continued accelerating faster than those for Goods during the period April 2016 and April 2017.