Inflation within limits
The monthly inflation rate for February 2014 stood at 0.7 %, an increase of 0.3 % when compared to the same period in 2013. On a monthly basis, January, and February 2014 as well as July 2013 registered the highest inflation rates of 0.9% and 0.7 % for the cummulative 12 month period as of February 2013. Similarly, the months of May 2013 and December 2013 continued to witness the lowest monthly inflation rates of 0.1%, according to a press statement released by the Namibia Statistics Agency.
The annual inflation rate stood at 5.2 % for February 2014 as compared to 5.8 % recorded during the same period last year. The average annual inflation rate fluctuated between 4.4% and 6.2 %. The highest contributors to the February 2014 inflation were Food and Non-Alcoholic beverages, Transport as well as Housing, Water and Electricity. These items contributed 22.6%, 20.7% and 17.7 % respectively. Alcoholic Beverages followed closely with a 16.5 % contribution to overall inflation, the statement concluded.