The Namibia Statistics Agency (NSA) says annual inflation stood at 5,4% in September.
This is an increase compared to the 4,7% seen in August. However, it’s a drop from the 7,1% recorded in September last year.
In its latest Namibia Consumer Price Index bulletin, the NSA said the inflation rate for September recorded a 0,8 % increase, compared to 0,4 % observed in the preceding month.
Statistician general Alex Shimuafeni said at the Zonal level for the month of September this year, Zone 1, comprising Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa and Zambezi regions recorded the highest annual inflation rate of 6,1%, followed by Zone 2, which is the Khomas region with an annual inflation rate of 5,2%.
Meanwhile, Zone 3, comprised of the //Kharas, Erongo, Hardap and Omaheke regions, recorded the least annual inflation rate estimated at 4,6%.
“Analysis of the average retail prices of selected products for the month of September 2023 revealed that consumers in Zone 1 paid the highest price for diesel per litre at N$21,26, while both Zone 2 and Zone 3 paid N$21,18 per litre,” he said.
Consumers in Zone 2 paid the highest price for white bread at N$14,55, followed by Zone 1 at N$14,24, while Zone 3 paid the lowest price of N$13,16.
Meanwhile, the increase in the monthly inflation rate emanated mainly from transport from 0,5% to 2,9%; alcoholic beverages and tobacco from 0,5% to 0,8%, food and non-alcoholic beverages from 0,3% to 0,4%, and recreation and culture (from 0,5% to 0,6%).
The major contributors to the annual inflation in September 2023 were food and non-alcoholic beverages, alcoholic beverages and tobacco, and housing, water, electricity, gas and other fuels.
The NSA report noted that the annual inflation rate for housing, water, electricity, gas and other fuels components, which accounts for 28,4% of the consumer basket, registered an increase of 3% during September 2023.
This is compared to 2,1% witnessed in September 2022.
“Month-on-month, this component witnessed a slow increase of 0,3%,” the report noted.
