Annual inflation holds at 6.7%

Namibia’s annual inflation rate for June 2016 stands at 6.7%, the Namibia Statistics Agency (NSA) announced yesterday.Unchanged from the annual rate announced in May this year, the figure also represents a 3.7% annual rise compared to the 3% inflation figure recorded for June 2015.Monthly inflation was driven mostly by price rises in the categories food and non-alcoholic beverages; housing, water, electricity, gas and other fuels; education; and hotels, cafes and restaurants.Meat prices slowed to growth of 4.5%, compared to 6.3% a month earlier, the agency said, as overall food inflation dropped to -0.6%, compared to 1.4% in May this year. All other subcomponents that make up the food category basket showed price increases.In terms of alcohol and tobacco, monthly inflation remained unchanged at 0.6% compared to May. This despite an annual slowdown in tobacco prices, from 10.4% growth in June 2015, to 4.3% growth in June 2016.Housing, water, electricity, gas and other fuels saw combined inflation increase from 2.5% in June 2015, to 7.6% last month.The lowest annual inflation rate, of -1.7%, was found in the group clothing and footwear, while the inflation rate for communication showed its highest annual rates since December 2013, rising from -0.1% then, to 2.4% in June 2016.“The increase in this group emanated from increases in the prices of all services comprising this component between June 2015 and June 2016,” the NSA said in its June 2016 Namibia Consumer price Index (NCPI) report.DENVER ISAACS

Annual inflation holds at 6.7%

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Namibian Sun 2025-07-22

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Annual inflation holds at 6.7%

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Namibian Sun 2025-07-22

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