• Contact Us
  • About Us
  • Advertisement
  • Privacy & Policy
Friday, July 11, 2025
SUBSCRIBE
The Brief | Namibia's Leading Business & Financial News
26 °c
Windhoek
22 ° Wed
25 ° Thu
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
Subscribe
No Result
View All Result
TB image banner 750x140
Home Business & Economy

Food prices drive February inflation amid further hikes expected

by editor
March 15, 2023
in Business & Economy
47
A A
57
SHARES
955
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

You might also like

Women now lead over 70% of Namibian SMEs

Namibia seeks stronger U.S. partnerships at Africa Business Summit

April inflation rises to 3.6%, driven by food and housing costs

Namibia’s annual inflation rate for February 2023 has significantly increased to 7.2%, compared to 4.5% recorded in February 2022, according to official figures.

The inflation rate surge was driven by increases in the prices of transport, food, and non-alcoholic beverages, indicating a challenging economic environment for consumers.

According to the National Statistics Agency (NSA), the average monthly inflation rate for the last few months has been around 7%, with the annual inflation rate for goods estimated at 10.1%, while for services stood at 3.1%.

The average annual inflation rate for the period between February 2022 and February 2023 stood at 6.3%, while the 12-month average annual inflation rate from March 2022 to February 2023 was estimated at 6.5%.

“The highest changes in the annual inflation rate were mainly witnessed in the categories of Food and non-alcoholic beverages (14.0%); Transport (9.9%); Furnishings, household equipment, and routine maintenance of the house (7.6%); Alcoholic beverages and tobacco (7.1%),” said NSA’s Statistician-General and CEO Alex Shimuafeni.

The annual inflation rate for housing, water, electricity, gas, and other fuels, which accounts for 28.4% of the consumer basket, increased by 2.9% during February 2023, compared to the annual inflation rate of 1.3% registered in February 2022. Zone 1, which includes Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa, and Zambezi, recorded the highest annual inflation rate of 7.6%, while Zone 2 (Khomas) registered the lowest annual inflation rate of 6.7%.

“The analysis of the average retail prices for some of the basic products consumed by the households for the month of February 2023 indicates that Chicken, frozen assorted pieces (1.5kg), consumers in Zone 2 paid the lowest price at N$84.77, while the highest price was observed in Zone 1 at N$111.93,” said Shimuafeni.

Meanwhile, on a monthly basis, the inflation rate increased by 0.4% compared to 1.1% recorded a month earlier.

According to Simonis Storm Securities, voluntary trading updates and statements issued by various Johannesburg Stock Exchange-listed entities give some insight into future inflationary pressures for the country.

“The importance of analysing the internal inflationary pressures of these listed entities is due to the fact that these companies operate franchise businesses throughout Namibia. So, the price increases that these companies will have to enforce due to rising cost pressures will ultimately lead to higher prices in Namibia. Adding to this, high diesel and logistics costs will increase consumer prices in Namibia even further as products are transported mainly by trucks from South Africa to Namibia, Simonis Storm Economist Theo Klein said.

author avatar
editor
See Full Bio
Tags: finance
Share23Tweet14Share4
Previous Post

Standard Bank to assist Namibian businesses to import from China

Next Post

Oryx Properties secures N$47m for Maerua Mall expansion

Recommended For You

Women now lead over 70% of Namibian SMEs

by reporter
July 8, 2025
0
Women now lead over 70% of Namibian SMEs

More than 70% of Namibia’s small and medium enterprises (SMEs) are led by women, according to First National Bank (FNB) Namibia, highlighting a shift towards more inclusive entrepreneurship...

Read moreDetails

Namibia seeks stronger U.S. partnerships at Africa Business Summit

by reporter
June 23, 2025
0
Namibia seeks stronger U.S. partnerships at Africa Business Summit

Namibia will participate in the 2025 U.S.-Africa Business Summit, with the country’s attendance aimed at deepening economic ties with the United States and promoting investment and trade opportunities....

Read moreDetails

April inflation rises to 3.6%, driven by food and housing costs

by reporter
May 13, 2025
0
April inflation rises to 3.6%, driven by food and housing costs

Namibia’s annual inflation rate rose to 3.6% in April 2025, primarily fuelled by increases in food and housing-related costs, the Namibia Statistics Agency (NSA) has reported. According to...

Read moreDetails

NamRA uncovers N$666,000 tax refund fraud scheme

by editor
May 5, 2025
0
NamRA uncovers N$666,000 tax refund fraud scheme

The Namibia Revenue Agency (NamRA) has uncovered a fraudulent scheme that resulted in the illegal payout of tax refunds totaling more than N$666,000 between January and April 2025,...

Read moreDetails

141,000 non-compliant businesses face deregistration by BIPA

by editor
May 2, 2025
0
141,000 non-compliant businesses face deregistration by BIPA

More than 141,000 businesses in Namibia are at risk of being deregistered after the Business and Intellectual Property Authority (BIPA) began a phased process to remove entities that...

Read moreDetails
Next Post
Oryx Properties secures N$47m for Maerua Mall expansion

Oryx Properties secures N$47m for Maerua Mall expansion

Related News

Change in hotel pricing risks further decline in domestic tourism

Change in hotel pricing risks further decline in domestic tourism

January 31, 2025
Private sector debt slows to N$121.1 billion in February

Private sector debt slows to N$121.1 billion in February

April 3, 2024
South Africa will face a fifth Covid wave in coming weeks: economists

South Africa will face a fifth Covid wave in coming weeks: economists

April 11, 2022

Browse by Category

  • Africa
  • Agriculture
  • Analysis
  • Business & Economy
  • Columnists
  • Companies
  • Finance
  • Finance
  • Fisheries
  • Green Hydrogen
  • Health
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • namibia
  • Namibia
  • News
  • Opinions
  • Property
  • Retail
  • Technology
  • Tourism
  • Trade
The Brief | Namibia's Leading Business & Financial News

The Brief is Namibia's leading daily business, finance and economic news publication.

CATEGORIES

  • Business & Economy
  • Companies
    • Agriculture
    • Finance
    • Fisheries
    • Health
    • Property
    • Retail
    • Technology
    • Tourism
    • Trade
  • Finance
  • Green Hydrogen
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • namibia
  • News
    • Africa
    • Namibia
  • Opinions
    • Analysis
    • Columnists

CONTACT US

Cell: +264814612969

Email: newsdesk@thebrief.com.na

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Companies
  • Mining & Energy
  • Business & Economy
  • Opinions
    • Analysis
    • Columnists
  • Africa

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.