Basic commodities price hikes push inflation up

PRICE increases of basic commodities like food, clothes, household goods and medical care and health services have caused inflation in the recent months, to rise.

For May, the monthly inflation rate estimated as 0,2 per cent recorded an increase of 0,1 per cent points over the April rate of 0,03 per cent. This was revealed in the latest Interim Consumer Price Index (ICPI) for Windhoek, which is produced and published by the Central Bureau of Statistics national planning commission secretariat.”The ICPI aims at monitoring developments in the price movements in the country represented by Windhoek.The monitoring focuses on the inflation rates calculated for various groups and sub-groups for each month during the year,”read the report published this week.Prices for the index were collected from trade outlets, including a number of shops, however other item prices like school fees are collected annually; durable goods and services including rent, furniture, cars are collected quarterly and monthly price collections for non-durable goods while for perishables data is collected every week.The food index for May was 252,4 up 0,4 percentage points over the April index of 252,1.According to the ICPI, this was due to price increases of prepared meals, fruit and vegetables, sugar, coffee, tea and cocoa among other food products.The All-Items index also increased from 253,4 in April to 253,8 in May.However, on the All-Items index the overall inflation rate for May was 3,3 per cent compared to 4,1 per cent recorded in April.The annual inflation rates for the major groups that comprise the ICPI were recorded as; food 2,8 per cent, transport and communication 0,2 per cent, housing, fuel and power 3,9 per cent and household goods and services 6,3 per cent.This was revealed in the latest Interim Consumer Price Index (ICPI) for Windhoek, which is produced and published by the Central Bureau of Statistics national planning commission secretariat.”The ICPI aims at monitoring developments in the price movements in the country represented by Windhoek.The monitoring focuses on the inflation rates calculated for various groups and sub-groups for each month during the year,”read the report published this week.Prices for the index were collected from trade outlets, including a number of shops, however other item prices like school fees are collected annually; durable goods and services including rent, furniture, cars are collected quarterly and monthly price collections for non-durable goods while for perishables data is collected every week.The food index for May was 252,4 up 0,4 percentage points over the April index of 252,1.According to the ICPI, this was due to price increases of prepared meals, fruit and vegetables, sugar, coffee, tea and cocoa among other food products.The All-Items index also increased from 253,4 in April to 253,8 in May.However, on the All-Items index the overall inflation rate for May was 3,3 per cent compared to 4,1 per cent recorded in April.The annual inflation rates for the major groups that comprise the ICPI were recorded as; food 2,8 per cent, transport and communication 0,2 per cent, housing, fuel and power 3,9 per cent and household goods and services 6,3 per cent.