Food, transport prices drive October inflation

Namibia’s annual inflation rate for October increased by 3.6% compared to 2.3% recorded over the same period last year, the country’s statistical agency announced on Thursday. 

The main contributors to the annual inflation rate were Transport (1.5 percentage points) and Food and non-alcoholic beverages (1.0 percentage points). 

On a monthly basis, the inflation rate slowed to 0.2 % compared to 0.3% recorded a month earlier. 

“The main contributors to the monthly inflation rate recorded in October 2021 were mainly Transport (0.7%); Recreation and culture; and Hotels, cafes and restaurants each recorded (0.5%),” said Namibia Statistics Agency (NGA) Statistician-General & CEO Alex Shimuafeni. 

Zonal inflation rates for the month of September 2021 show that Zone 1 (Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa, and Zambezi) and Zone 2 (Khomas) recorded annual inflation rate of 3.2% and 3.3%, respectively, which was below the national average of 3.6%. 

Zone 3, (Erongo, Hardap, Omaheke and Kharas) on the other hand registered the highest inflation rate of 4.7% above the national average. 

On a monthly basis, Zone 1 and 3 recorded an inflation rate of 0.2% each, while Zone 2 registered a rate of 0.1%. 

Food and non-alcoholic beverages, which accounts for 16.5%, rose by 5.2% during the month of October 2021 compared to 7.1% witnessed during the same period last year 

“Prices for meat were 12.5% more expensive than a year ago. The highest inflation rates within this category were observed in Chicken (23.8%), Minced meat (16.6%), Liver and kidney (15.2%),” he said. 

According to Simonis Storm, the year-to-date average inflation rate maintained at 3.5%, which is in line with its forecast for 2021.

Rate this item
(0 votes)
Last modified on Friday, 12 November 2021 16:57

Related items