Inflation increases slightly
Inflation increased slightly by 0.1% for the month of April according to the Namibia Statistics Agency. The agency is expecting a downward trend to start showing.
OGONE TLHAGE
Inflation showed a slight increase for the month of April, increasing by 0.1% on a month-to-month basis, according to the Namibia Statistics Agency, with the annual inflation rate increasing to 6.7%.
The increase in the general price levels over the year emanated mainly from housing, water, electricity, gas and other fuels (9.4%), hotels, cafes and restaurants (8.3%), education (7.8%), recreation and culture (6.9%), transport (6.9%) and miscellaneous goods and services (6.1%).
“On a monthly basis the inflation increased from 0.1 % recorded in March 2017 to 0.3 %in April 2017. The monthly and annual inflation rates for goods were estimated at 0.3 and 5.6 %respectively, while those for services stood at 0.3% and 8.2% respectively. This gives an indication that on annual basis the average prices of services continued accelerating faster than those for goods during the period April 2016 and April 2017,” the agency said.
The downward trend for the annual inflation rate since January 2017 is continuing and April 2017 annual inflation rate figure is the lowest in the past 9 months according to the NSA.
“The April 2017 annual inflation rate happened to be equal to the average annual inflation rate of the calendar year 2016,” it said in its assessment.
On a month-to-month basis, the inflation rate increased to 0.3% compared to 0.1% registered during the previous month.
“The annual inflation rate for housing, water, electricity, gas and other fuels category continues to drive annual inflation rate, which stood at 9.4% in April 2017 as compared to 7.5% recorded during the same period a year earlier,” said the agency.
“This increase emanated from the increases registered in all the sub-groups comprising the housing, water, electricity, gas and other fuels group except for the electricity, gas and other fuels sub-component which decelerated to 8%from 9.5% recorded during the same period a year earlier,” the agency concluded.
Inflation showed a slight increase for the month of April, increasing by 0.1% on a month-to-month basis, according to the Namibia Statistics Agency, with the annual inflation rate increasing to 6.7%.
The increase in the general price levels over the year emanated mainly from housing, water, electricity, gas and other fuels (9.4%), hotels, cafes and restaurants (8.3%), education (7.8%), recreation and culture (6.9%), transport (6.9%) and miscellaneous goods and services (6.1%).
“On a monthly basis the inflation increased from 0.1 % recorded in March 2017 to 0.3 %in April 2017. The monthly and annual inflation rates for goods were estimated at 0.3 and 5.6 %respectively, while those for services stood at 0.3% and 8.2% respectively. This gives an indication that on annual basis the average prices of services continued accelerating faster than those for goods during the period April 2016 and April 2017,” the agency said.
The downward trend for the annual inflation rate since January 2017 is continuing and April 2017 annual inflation rate figure is the lowest in the past 9 months according to the NSA.
“The April 2017 annual inflation rate happened to be equal to the average annual inflation rate of the calendar year 2016,” it said in its assessment.
On a month-to-month basis, the inflation rate increased to 0.3% compared to 0.1% registered during the previous month.
“The annual inflation rate for housing, water, electricity, gas and other fuels category continues to drive annual inflation rate, which stood at 9.4% in April 2017 as compared to 7.5% recorded during the same period a year earlier,” said the agency.
“This increase emanated from the increases registered in all the sub-groups comprising the housing, water, electricity, gas and other fuels group except for the electricity, gas and other fuels sub-component which decelerated to 8%from 9.5% recorded during the same period a year earlier,” the agency concluded.
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