Photo Chuttersnap/Uunsplash
Photo Chuttersnap/Uunsplash

Alcoholic beverages inflation rate at 7.6%

“Sin taxes” adjusted in February
Overall, Namibia recorded an annual inflation rate of 7.2% in February 2023 compared to 4.5% February 2022.
Phillepus Uusiku
Finance minister Iipumbu Shiimi in his budget speech last month announced an adjustment in “sin taxes” on the consumption of alcoholic beverages, tobacco, cigarettes and cigars.

A pack of 20 cigarettes went up by 98 cents, while a kg of cigars now cost an additional N$237.79.

In addition, unfortified wine increased by 24 cents per litre, whereas fortified went up by 41 cents per litre.

Sparkling wine increased by 12 cents per liter, while spirits now cost an extra N$12.08 per litre.

Lastly, clear malted beer increased by N$5.99 per litre, and ciders and alcoholic fruit beverages rose by N$5.99 per litre.

According to the Namibia Statistics Agency (NSA), the alcoholic beverages and tobacco category recorded an inflation rate of 7.1% in February 2023, compared 3.5% and 5.8% in February 2022 and January 2023, respectively.

“The upward movement in the annual inflation rate in this category during this period was due to the increase witnessed in the price levels of alcoholic beverages which rose from 3.4% to 7.6%,” NSA said.

Tobacco inflation stood at 5.1% in February 2023, compared to 2.7% and 3.8% recorded in January 2023 and February 2022, respectively.

The alcoholic beverages and tobacco category carries the fourth largest weight in Namibia Statistics Agency consumer basket of 12.59%, after transport (14.28%), food and non-alcoholic beverages (16.45%) and housing (28.26%).

That means for every N$100 that consumers have in their pockets, N$12.59 is likely to be spend on alcoholic beverages and tobacco.

Overall, Namibia recorded an annual inflation rate of 7.2% in February 2023, compared to 4.5% registered in February 2022, according to the Namibia Statistics Agency. In January 2023, inflation stood at 7%.

The main contributors to the annual inflation rate for February 2023 were food and non-alcoholic beverages (2.6 percentage points); transport (1.5 percentage points); alcoholic beverages and tobacco (1.0 percentage point); housing, water, electricity, gas, and other fuels (0.7 percentage points); Furnishings, household equipment and routine maintenance of the house; and miscellaneous goods and services each contributed 0.4 percentage points.

Looking at the zones, Zone 1 (Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa, and Zambezi) recorded the highest inflation rate of 7.6%, followed by Zone 3 (//Kharas, Erongo, Hardap and Omaheke), which recorded 7.3% and Zone 2 (Khomas) 6.7%[email protected]

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Namibian Sun 2024-03-01

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H.E. Dr Nangolo Mbumba, President of the Republic of Namibia says they will continue to pursue the second struggle of Namibia Zambian President, Hakainde Hichilema said one road will be named after the late president in Lusaka and the other road will be named after the founding president of Namibia The late President Hage Geingob’s casket was stationed at the Eternal Flame before he was taken to his final resting place The casket will of the late president was lowered with a 21 gun salute Accoutrements will be handed over to the former first lady of Monica Geingos An official luncheon by invitation is scheduled to take place at 14:00 at the State House The foreign dignataries are currently paying their last tribute to the former first lady, Monica Geingos Heroes Acre will be closed to the public, the National Council will announce once it is reopenedSerieA: Internazionale 4 vs 0 Atalanta | Sassuolo 1 vs 6 Napoli FA Cup: Liverpool 3 vs 0 Southampton | Nottingham Forest 0 vs 1 Manchester United | Wolverhampton Wanderers 1 vs 0 Brighton & Hove Albion | Chelsea 3 vs 2 Leeds United | Blackburn Rovers 1 vs 1 Newcastle United | Luton Town 2 vs 6 Manchester City | AFC Bournemouth 0 vs 1 Leicester City Katima Mulilo: 18° | 36° Rundu: 18° | 37° Eenhana: 21° | 37° Oshakati: 23° | 37° Ruacana: 20° | 36° Tsumeb: 20° | 35° Otjiwarongo: 20° | 33° Omaruru: 21° | 35° Windhoek: 19° | 30° Gobabis: 21° | 34° Henties Bay: 18° | 22° Wind speed: 18km/h, Wind direction: S, Low tide: 12:25, High tide: 06:24, Low Tide: 00:25, High tide: 18:45 Swakopmund: 17° | 18° Wind speed: 24km/h, Wind direction: SW, Low tide: 12:23, High tide: 06:22, Low Tide: 00:23, High tide: 18:43 Walvis Bay: 18° | 23° Wind speed: 32km/h, Wind direction: SW, Low tide: 12:23, High tide: 06:21, Low Tide: 00:23, High tide: 18:42 Rehoboth: 20° | 32° Mariental: 25° | 35° Keetmanshoop: 24° | 34° Aranos: 24° | 36° Lüderitz: 15° | 28° Ariamsvlei: 26° | 38° Oranjemund: 15° | 23° Luanda: 27° | 29° Gaborone: 19° | 38° Lubumbashi: 16° | 26° Mbabane: 14° | 32° Maseru: 17° | 32° Antananarivo: 17° | 22° Lilongwe: 18° | 27° Maputo: 21° | 35° Windhoek: 19° | 30° Cape Town: 19° | 23° Durban: 17° | 29° Johannesburg: 18° | 33° Dar es Salaam: 26° | 32° Lusaka: 16° | 29° Harare: 15° | 31° Currency: GBP to NAD 24.11 | EUR to NAD 20.68 | CNY to NAD 2.67 | USD to NAD 19.1 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.34 | EGP to NAD 0.61 | KES to NAD 0.13 | NGN to NAD 0.01 | ZMW to NAD 0.8 | ZWL to NAD 0.04 | BRL to NAD 3.85 | RUB to NAD 0.21 | INR to NAD 0.23 | USD to DZD 134.5 | USD to AOA 828.51 | USD to BWP 13.77 | USD to EGP 30.85 | USD to KES 145.48 | USD to NGN 1543.58 | USD to ZAR 19.13 | USD to ZMW 23.55 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 72204.56 Down -1.28% | Namibian Stock Exchange (NSX) Overall Index 1504.77 Down -1.33% | Casablanca Stock Exchange (CSE) MASI 13031.16 Down -0.78% | Egyptian Exchange (EGX) 30 Index 28964.41 Up +0.30% | Botswana Stock Exchange (BSE) DCI 9009.48 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 077.66/OZ UP +1.63% | Copper US$ 3.83/lb UP +0.34% | Zinc US$ 2 427.10/T DOWN -0.3% | Brent Crude Oil US$ 84.88/BBP UP +2.64% | Platinum US$ 884.38/OZ UP +0.63% Sport results: H.E. Dr Nangolo Mbumba, President of the Republic of Namibia says they will continue to pursue the second struggle of Namibia Zambian President, Hakainde Hichilema said one road will be named after the late president in Lusaka and the other road will be named after the founding president of Namibia The late President Hage Geingob’s casket was stationed at the Eternal Flame before he was taken to his final resting place The casket will of the late president was lowered with a 21 gun salute Accoutrements will be handed over to the former first lady of Monica Geingos An official luncheon by invitation is scheduled to take place at 14:00 at the State House The foreign dignataries are currently paying their last tribute to the former first lady, Monica Geingos Heroes Acre will be closed to the public, the National Council will announce once it is reopenedSerieA: Internazionale 4 vs 0 Atalanta | Sassuolo 1 vs 6 Napoli FA Cup: Liverpool 3 vs 0 Southampton | Nottingham Forest 0 vs 1 Manchester United | Wolverhampton Wanderers 1 vs 0 Brighton & Hove Albion | Chelsea 3 vs 2 Leeds United | Blackburn Rovers 1 vs 1 Newcastle United | Luton Town 2 vs 6 Manchester City | AFC Bournemouth 0 vs 1 Leicester City Weather: Katima Mulilo: 18° | 36° Rundu: 18° | 37° Eenhana: 21° | 37° Oshakati: 23° | 37° Ruacana: 20° | 36° Tsumeb: 20° | 35° Otjiwarongo: 20° | 33° Omaruru: 21° | 35° Windhoek: 19° | 30° Gobabis: 21° | 34° Henties Bay: 18° | 22° Wind speed: 18km/h, Wind direction: S, Low tide: 12:25, High tide: 06:24, Low Tide: 00:25, High tide: 18:45 Swakopmund: 17° | 18° Wind speed: 24km/h, Wind direction: SW, Low tide: 12:23, High tide: 06:22, Low Tide: 00:23, High tide: 18:43 Walvis Bay: 18° | 23° Wind speed: 32km/h, Wind direction: SW, Low tide: 12:23, High tide: 06:21, Low Tide: 00:23, High tide: 18:42 Rehoboth: 20° | 32° Mariental: 25° | 35° Keetmanshoop: 24° | 34° Aranos: 24° | 36° Lüderitz: 15° | 28° Ariamsvlei: 26° | 38° Oranjemund: 15° | 23° Luanda: 27° | 29° Gaborone: 19° | 38° Lubumbashi: 16° | 26° Mbabane: 14° | 32° Maseru: 17° | 32° Antananarivo: 17° | 22° Lilongwe: 18° | 27° Maputo: 21° | 35° Windhoek: 19° | 30° Cape Town: 19° | 23° Durban: 17° | 29° Johannesburg: 18° | 33° Dar es Salaam: 26° | 32° Lusaka: 16° | 29° Harare: 15° | 31° Economic Indicators: Currency: GBP to NAD 24.11 | EUR to NAD 20.68 | CNY to NAD 2.67 | USD to NAD 19.1 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.34 | EGP to NAD 0.61 | KES to NAD 0.13 | NGN to NAD 0.01 | ZMW to NAD 0.8 | ZWL to NAD 0.04 | BRL to NAD 3.85 | RUB to NAD 0.21 | INR to NAD 0.23 | USD to DZD 134.5 | USD to AOA 828.51 | USD to BWP 13.77 | USD to EGP 30.85 | USD to KES 145.48 | USD to NGN 1543.58 | USD to ZAR 19.13 | USD to ZMW 23.55 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 72204.56 Down -1.28% | Namibian Stock Exchange (NSX) Overall Index 1504.77 Down -1.33% | Casablanca Stock Exchange (CSE) MASI 13031.16 Down -0.78% | Egyptian Exchange (EGX) 30 Index 28964.41 Up +0.30% | Botswana Stock Exchange (BSE) DCI 9009.48 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 077.66/OZ UP +1.63% | Copper US$ 3.83/lb UP +0.34% | Zinc US$ 2 427.10/T DOWN -0.3% | Brent Crude Oil US$ 84.88/BBP UP +2.64% | Platinum US$ 884.38/OZ UP +0.63%