July annual inflation comes in at 4.5% – Eggs more pricey in the Khomas Region
The annual inflation rate in July 2023 stood at 4.5% compared to 6.8% in July 2022, according to the main gauge of inflation, the Namibia Statistic Agency consumer price index (CPI).
The main contributors to the annual inflation rate in July 2023 are food and non-alcoholic beverages with a contribution of 2.0 percentage points. Alcoholic beverages, and tobacco contributed 0.9 percentage points and Housing, water, electricity, gas, and other fuels contributed 0.7 percentage points, the report noted.
Month-on-month, the inflation rate stood at 0.3% compared to 0.1 % registered during the preceding month.
Meanwhile, at the Zonal level for July 2023, Zone 1 (Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa, and Zambezi regions) recorded the highest annual inflation rates of 4.7%, Zone 2 (Khomas region) recorded an annual inflation rate of 4.6% while Zone 3 (Kharas, Erongo, Hardap, Omaheke regions) recorded 4.2%).
According to the NSA, analysis of the average retail prices of selected products for July 2023 revealed that consumers in Zone 2 paid the highest price for an eggs pack of 6 at N$22.13 followed by Zone 3 at N$21.29, while consumers in Zone 1 paid the lowest price of N$19.83. For Pure Sunflower (750ml), consumers in Zone 1 paid the lowest price of N$32.18 while the highest price was paid by consumers in Zone 2 at N$34.90.