Inflation edges up in September
The inflation rate for September was 0.8%, up from 0.4% observed in the preceding month, the statistics agency announced on Tuesday.
According to the country’s main gauge of inflation, the consumer price index (NCPI) analysis of the average retail prices of selected products for September revealed that consumers in Zone 1 (Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa, and Zambezi regions) paid the highest price for diesel per liter at N$21.26, while both Zone 2 (Khomas region) and Zone 3 (Kharas, Erongo, Hardap, Omaheke regions) paid N$21.18 per liter.
The index further revealed that consumers in Zone 2 paid the highest price for white bread at N$14.55, followed by Zone 1 at N$14.24, while in Zone 3 paid the lowest price of N$13.16.
The index noted that the annual inflation rate stood at 5.4% in September 2023, compared to the 7.1% rate witnessed in September 2022.
At the Zonal level, Zone 1 recorded the highest annual inflation rate of 6.1%, followed by Zone 2 with an annual inflation rate of 5.2% while Zone 3 recorded the lowest annual inflation rate estimated at 4.6%.
Meanwhile, the central bank has since lowered its inflation projection for 2023 to an average of 5.6%, down 0.4% from its previous forecast, due to unexpected deflation in the transportation category.
