Namibia records highest annual inflation rate since June 2019

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NAMIBIA’S annual inflation rate for April 2021 stood at 3.9 per cent, up from 1.6 per cent of April 2020.

This rate makes it the highest annual inflation rate recorded since June 2019, Namibia Statistics Agency (NSA) said on Friday.

The main contributors to the higher annual inflation rate were food and non-alcoholic beverages and transport, NSA Statistician-General Alex Shumuafeni said.

“Food and non-alcoholic beverages, which account for 16.5 per cent of the basket of goods and services, increased by 5.9 per cent year-on-year, while transport, which accounts for 14.3 per cent of the basket, increased by 7.5 per cent year-on-year,’’ Shumuafeni said.

Monthly inflation for April rose by 0.4 per cent, up from 0.5 per cent recorded in March, Shimuafeni said.

Namibia’s overall inflation is projected to average around 3.2 per cent for 2021, according to the central bank.

NAN

– May 14, 2021 @ 19:15 GM

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