Inflation goes up to 5,4%

INFLATION is surging, with the monthly inflation rate for August estimated at one per cent compared to the rate of 0,7 per cent registered for July, the Namibia Consumer Price Index (NCPI) has revealed.

The August annual inflation rate was at a much higher 5,4 per cent, while the corresponding rate for the same period last year was 2,2 per cent. The All-Items Index for August increased to 130,2 from 128,9 in July.The average annual inflation rate for 2006 from January to August was estimated at 4,7 per cent with the major groups comprising the NCPI at: food and non-alcoholic beverages (6,5 per cent), housing, water, electricity, gas and other fuels (3,1 per cent) and transport (10,2 per cent).The increase was attributed to price hikes of food, beverages, clothing, housing, water, electricity and household equipment, among other things.The All-Items Index for August increased to 130,2 from 128,9 in July.The average annual inflation rate for 2006 from January to August was estimated at 4,7 per cent with the major groups comprising the NCPI at: food and non-alcoholic beverages (6,5 per cent), housing, water, electricity, gas and other fuels (3,1 per cent) and transport (10,2 per cent).The increase was attributed to price hikes of food, beverages, clothing, housing, water, electricity and household equipment, among other things.