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.