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Inflation decreases to 3% in October

Inflation decreases to 3% in October

According to the Namibia Statistics Agency, the inflation rate for October 2019 slowed from 3.3% in September to 3%, recording a 0.2% decline.

On an annual basis, the month of October is 2.1% lower than the 5.1% registered in October 2018.

The Statistics Agency attributes this to decreases registered mainly in: Transport (from 13.6% to 1.5%), Miscellaneous goods and services (from 4.4% to 1.7%), Housing, water, electricity, gas and other fuels (from 3.8% to 1.9%), Health (from 4.8% to 3.1%) and Alcoholic beverages and tobacco (from 4.9% to 3.9%).

Statistician-General Alex Shimuafeni noted the twelve months annual average and monthly average inflation rates from November 2018 to October 2019 stood at 4.2% and 0.2%.

“The corresponding rates recorded during the same period a year earlier stood at 4.3% and 0.4%, respectively. The annual average and monthly average inflation rates for the period January 2019 to October 2019 were estimated as 4% and 0.3%, respectively,” Shimuafeni said.

Caption: Monthly and annual percentage changes; October 2019 (Dec 2012 = 100)- NSA.


About The Author

Donald Matthys

Donald Matthys has been part of the media fraternity since 2015. He has been working at the Namibia Economist for the past three years mainly covering business, tourism and agriculture. Donald occasionally refers to himself as a theatre maker and has staged two theatre plays so far. Follow him on twitter at @zuleitmatthys