Annual inflation settles at 4.8% in April
The annual inflation rate for April 2024 stood at 4.8% compared to 6.1% recorded in April 2023, according to Namibia Consumer Price Index (NCPI) statistics released this week.
Food and non-alcoholic beverages and Alcoholic beverages, tobacco each contributing 1 percentage point continued to be the main contributors to inflation as well as housing, water, electricity, gas, and other fuels and transport accounting for 0.9 percentage points, Namibia Statistics Agency (NSA) Statistician Alex Shimuafeni said in a statement.
Monthly, the inflation rate increased to 0.7% compared to 0 percent recorded a month earlier.
According to Shimuafeni, the annual inflation rate for housing, water, electricity, gas, and other fuel components that accounted for 28.4% of the consumer basket increased by 3.6% during April 2024 compared to 2.6% observed in April 2023.
