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Annual inflation rate for August slows to 3.7%

Annual inflation rate for August slows to 3.7%

The annual inflation rate for August slowed from 4.4% to 3.7% and on a monthly basis from 0.2% to 0.1%, according to the statistics agency.

Namibia Statistics Agency in their latest Consumer Price Index attributed said the decrease resulted mainly from downturn registered in: Transport (from 9.7 to 6.1%), Housing, water, electricity, gas and other fuels (from 4.4 to 1.9%), Health (from 5.1 to 3.1%), Alcoholic beverages and tobacco (from 5.4 to 3.9%), Miscellaneous goods and services (from 3.9 to 2.3%) and Hotels, cafes and restaurants (from 4.5 to 3.4%).

The twelve months average annual and average monthly inflation rates from September 2018 to August 2019 stood at 4.5% and 0.3 %. Corresponding rates recorded during the same period a year earlier stood at 4.3% and 0.4% respectively, Statistician General Alex Shimuafeni added.

Meanwhile, the average annual and average monthly inflation rates for the period January 2019 to August 2019 were estimated as 4.2 percent and 0.3 percent respectively.


 

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