Inflation in Namibia rose 0.4% from 0.1% month-on-month

Inflation in Namibia rose on a month-on-month basis in September, quickening to 0.4% from 0.1% recorded in August, stated the Namibia Statistics Agency.

Inflation Rate in Namibia averaged 9.59% from 1973 to 2017, the country witnessed inflation at its peak of 20.54% in June of 1992 and its lowest of 0.94% was recorded in May of 2005.

Consumer prices in Namibia increased 5.6% year-on-year in September 2017, following a 5.4% rise in August this year.

In the Southern African country, some sectors are considered most important in the consumer price index (especially those that account for a large percent of the total weight) and prices went up at a faster pace in these sectors between August and September this year.

Housing and Utilities accounts for 28.4% of total weight and the price rose to 8.95 from 8.3%. Food and Non-Alcoholic Beverages accounts for 16.5% of total weight increased from 4.2% to 4.6% month-on month. Transport accounts 14.3% rose 3.9% from 2%, Alcoholic beverages and Tobacco 12.6% rose 5.3% from 4.8%.

Health, restaurant and hotels account from only 17.6% total weight combined, and prices inflated 5.9% from 5.8% and 6.2% from 6% respectively.

A few of these important categories like furnishings and household Equipment, 5.5% of total weight declined 3.6% from 5.2%. Miscellaneous goods and services which occupies 5.4% of total weight declined 4.1% from 4.8%. Also, communications, recreation and culture witnessed a decline 4.3% from 4.4% and 3.1% from 4.5% respectively.