Annual inflation for April slows down y-o-y
According to the latest Consumer Price Index, the annual inflation rate for April 2018 slowed to 3.6% as compared to 6.7% recorded in April 2017 while on a monthly basis it increased to 0.3%.
The slowdown in the annual inflation rate resulted from the price levels of Housing, water, electricity, gas and other fuels (9.4% to 3.4%), Alex Shimuafeni, Statistician-General and Chief Executive at the Namibia Statistics Agency said.
Furthermore, the highest drivers of inflation during the month under review were Education (9.9%), Transport (5.8%) and Health (5.6%).
The category ‘Food and non-alcoholic beverages’ slowed to 2.9% compared to 5.8% registered during the same period last year, resulting in a decrease of 2.9% which is half of 5.8%.
Meanwhile, the annual inflation rate for Alcoholic beverages and tobacco for the month of April 2018 stood at 4.7% compared to 3.9% recorded during the same period last year, resulting in an increase of 0.8%. This increase resulted from increases in the price levels of alcoholic beverages sub category that increased by 1.5%.
Additionally, the annual inflation rate for Hotels, cafes and restaurants stood at 2.4% in April 2018 compared to 8.3% recorded in April 2017, resulting in a decrease of 5.9%. The decrease resulted from declines witnessed in the price levels of Accommodation services which dropped from 10.6% recorded in April 2017 to -0,5% registered in April 2018.