The Namibia Statistics Agency (NSA) says food and non-alcoholic beverages inflation declined to 5.1% in September 2024 from 9.8% in the same period last year, while transport inflation dropped to 1.2% from 2.2%.
The declines were driven by lower prices for essential items such as bread and cereals, as well as a slowdown in vehicle price increases.
However, housing, utilities and related costs saw an increase of 3.7% during the month under review, up from 3.0% last year, reflecting ongoing price pressures in these essential areas of expenditure.
The overall inflation rate dropped to 3.4% compared to 5.4% in the same period last year, offering some relief to consumers. Core inflation, which excludes volatile items like food and energy, stood at 3.5% in September 2024, slightly higher than the headline inflation.
“The headline annual inflation rate for September 2024, stood at 3.4% compared to 5.4% registered in September 2023. On a monthly basis, the inflation rate witnessed a decline of 0.2 percent compared to an increase of 0.3% recorded a month ago,” said NSA Statistician General and CEO Alex Shimuafeni.
According to the NSA’s Consumer Price Index (CPI) regionally, the inflation performance varied.
Zone 2 (Khomas region) experienced the highest inflation rate at 4.3%, followed by Zone 3 (//Kharas, Erongo, Hardap and Omaheke) at 3.1%, and Zone 1 (Kavango, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa and Zambezi) at 2.8%.
Notably, Zone 3 had the highest price for beef stew at N$96.71 per kg, while Zone 1 consumers paid the lowest price at N$90.99. Fresh tomatoes were the most expensive in Zone 2 at N$37.29 per kg.
“The Zonal inflation rates for the month of September 2024 revealed that Zone 2 (Khomas region) recorded the highest rate at 4.3%, followed by Zone 3 (//Kharas, Erongo, Hardap and Omaheke regions) which recorded an annual inflation rate of 3.1%; and Zone 1 (Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa and Zambezi regions) recorded a rate of 2.8%,” Shimuafeni said.
NSA reported that within specific sectors, hotels, cafés, and restaurants recorded the highest annual inflation increase at 5.7%, followed by food and non-alcoholic beverages (5.1%), recreation and culture (4.7%), and alcoholic beverages and tobacco (4.0%).
