Annual inflation increases to 3.5% in September
The annual inflation rate for September 2021 stood at 3.5%, a 1.1% increase from the 2.4% rate recorded in September 2020, according to the latest consumer price index released by the Namibia Statistics Agency.
The main contributors to the annual inflation rate for September 2021 were mainly transport, food and non-alcoholic beverages.
The Zonal inflation rates for the month of September revealed that, Zone 1 (Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa, and Zambezi) and
Zone 2 (Khomas) each recorded an annual inflation rate of 3.1%, while Zone 3, (Erongo, Hardap, Omaheke and //Kharas) registered an inflation rate of 4.6%. On a monthly basis, Zone 1 recorded an inflation rate of 0.4%, Zone 2 recorded 0.2%, and Zone 3 registered 0.5%.
“The average retail prices of selected products for the month of September 2021 revealed that consumers residing in Zone 2 recorded the lowest price for Citrus fruits at N$17.81 per kilogram, followed by Zone 1 at N$24.93 while consumers in Zone 3 paid the highest price of N$28.49. For Honey, consumers in Zone 1 paid the highest price at N$77.47 for 500g, while the lowest price was recorded in Zone 3 at N$72.32,” Statistician-General, Alex Shimuafeni said.
On a monthly basis, the inflation rate increased by 0.3% compared to a decline of 0.2% posted in the preceding month.
The twelve-month average annual inflation rate from October 2020 to September 2021 was estimated at 3.2%. The highest rate of 0.9% was witnessed in the month of January 2021.