Annual inflation in October steady at 7.1%
The annual inflation rate measured monthly, was 7.1% higher in October 2022 than in October 2021 when it stood at 3.6%.
On a monthly basis, the inflation rate increased by 0.2% compared to 0.1% recorded a month earlier. Transport and Food and non-alcoholic beverages components continued to be the main drivers of the annual inflation rate with a contribution of 2.6 percentage points and 1.7 percentage points, respectively.
Statistician General, Mr Alex Shimuafeni, said that in terms of zonal inflation, the central regions (Zone 1) recorded the highest annual inflation rate of 7.8% followed by Zone 3 (Hardap, Omaheke, //Karas, and Erongo) at 6.8% and Zone 1 (Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa, and Zambezi) at 6.5%.
The main contributors to the October annual inflation rate were Transport (2.6 percentage points); Food and non-alcoholic beverages (1.7 percentage points); Alcoholic beverages and tobacco (0.9 percentage points); Housing, water, electricity, gas, and other fuels (0.6 percentage points) and Furnishing household equipment and routine maintenance of the house (0.5 percentage points).