Fruits and vegetables were the largest drivers of inflation in May with the two commodities recording an annual price increase of 22.1% and 18.5% respectively, official statistics reveal.
According to the Namibia Statistics Agency’s latest Namibia Consumer Price Index (NCPI), the price levels of fruit went up to 22.1% during May 2023 compared to 16.5% recorded during the same period a year earlier.
“The increase was reflected mainly in the price levels of watermelons (from 7.8% to 22.1%); citrus fruits (from 9.1% to 31.3%); and pears (from 5.7% to 12.5%),” Namibia Statistics Agency (NSA) Statistician-General & CEO Alex Shimuafeni said.
In terms of veggies, on average, they were 18.5% more expensive in May 2023 than in May 2022.
“The increase in the annual inflation rate for this subcategory was mainly observed in spinach (14.3%), onions (35.7%); cabbages (43.3%) and cucumbers (41.1%)” added Shimuafeni.
Similarly, bread and cereals, which account for the highest weight of food items that consumers purchase, were 17.7% more expensive in May 2023 than in May 2022.
“The largest rise was reflected in maize, meal/grain (28.5%); mealie rice/malt (19.4%); macaroni, spaghetti and noodles (18.8%); bread, cake flour (21.3%) and cakes (14.9%),” Shimuafeni said.
The food sub-category accounts for 14.8% of the consumer basket in the NCPI.
Bread and cereals, which accounted for the highest weight of food items that consumers purchase, were 17.7% more expensive in May 2023 than in May 2022.
This was followed by meat at (3.5%); sugar, jam, honey, syrups, chocolate, and confectionery (1.4%), then milk, cheese, and eggs accounted for 1.2% each respectively.
“The largest rise was reflected in maize, meal/grain (28.5%); mealie rice/malt (19.4%); macaroni, spaghetti and noodles (18.8%); bread, cake flour (21.3%) and cakes (14.9%),” the report added.
On a monthly basis, the inflation rate for May 2023 stood at 0.4% compared to 0.2 percent registered in April.
The annual inflation rate for May 2023 stood at 6.2% compared to 6.3% recorded during the same period in 2022.
According to the NSA, the highest change in prices during May 2023 was observed in recreation and culture (15.8%) and food and non-alcoholic beverages (13.5%).
“Analysis of the average retail prices of selected products for the month of May 2023 revealed that consumers in Zone 2 paid the highest price for Pure sunflower (750 ml) at N$36.86 followed by Zone 1 at N$35.38,” NSA reports.
