Namibia’s annual inflation rate slowed to 2.1% in March 2026, down from 4.2% recorded in the same month last year, according to the Namibia Statistics Agency (NSA).
On a monthly basis, inflation stood at 0.2%, up from 0.0% in February. Core inflation, at 2.9%, remained higher than the headline rate.
The NSA said housing, water, electricity, gas and other fuels remained the main driver of inflation, contributing 1.1 percentage points to the annual rate, followed by food and non-alcoholic beverages at 0.4 percentage points. Alcoholic beverages and tobacco, along with other categories, each contributed 0.3 percentage points.
Inflationary pressures were most pronounced in housing-related costs, which rose by 4.6% year-on-year, up from 3.8% a year earlier, driven largely by higher electricity, gas and fuel prices.
Food and non-alcoholic beverages inflation eased sharply to 1.7%, compared to 6.2% in March 2025. Transport recorded deflation of 1.7%, against an increase of 2.6% in the same period last year.
Inflation for alcoholic beverages and tobacco slowed to 1.9%, down from 5.5% a year earlier.
Regionally, Zone 2, which includes the Khomas Region, recorded the highest annual inflation rate at 3.2%, above the national average. Zone 3, covering //Kharas, Erongo, Hardap and Omaheke regions, recorded 2.0%, while Zone 1, which includes northern regions such as Kavango East and Oshana, recorded the lowest rate at 1.0%.
Price comparisons showed regional variation in key goods. Zone 3 recorded the highest maize meal price at N$69.74 for a 5kg bag, while Zone 1 recorded the lowest at N$66.96. In contrast, Zone 1 recorded the highest biltong prices at N$525.87 per kilogram, while Zone 3 recorded the lowest at N$408.32.
