CHAMWE KAIRA
The year-on-year inflation rate stood at 4.8% in Zone 1 (Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa, and Zambezi) in June this year compared to 5.2% registered during June 2023.
The Namibia Statistics Agency said the slowdown in the annual inflation rate emanated mainly from the slow increases registered in the price levels of ‘food and non-alcoholic beverages’ (from 11% to 4.1%); ‘education’ (from 4.5% to 0.6%); ‘miscellaneous goods and services’ (from 6.8% to 1.4%); ‘clothing and footwear’ (from 3.7% to 1.9%); and ‘furnishing, household equipment and routine maintenance of the house’ (from 6.4% to 4.5%).
On a monthly basis, the inflation rate registered a decline of 0.2% compared to an increase of 0.3% recorded during the preceding month.
In terms of Zone 2 (Khomas), the agency said year-on-year inflation rate for the period under review stood at 4.8%, a slowdown when compared to 5.4% recorded during the same period of 2023.
The slowdown emanated mainly from the price levels of ‘food and non-alcoholic beverages’ (from 13.6% to 3.9%); ‘recreation and culture’ (from 15.6% to 8.5%); ‘miscellaneous goods and services’ (from 7.8% to 2.6%); and ‘furnishing, household equipment and routine maintenance of the house’ (from 7.3 % to 2.9%).
On a monthly basis, the inflation rate registered a decline 0.3% compared to an increase of 0.2% recorded during the prior month.
The agency said in Zone 3 (Kharas, Erongo, Hardap and Omaheke), the year-on-year inflation rate stood at 4.1% in June 2024 compared to 5.2% recorded during same period of the preceding year. The slowdown in the annual inflation rate resulted mainly from the slow increases witnessed in the price levels of ‘food and non-alcoholic beverages’ (from 11 % to 5.2%); ‘furnishing, household equipment and routine maintenance of the house’ (from 8.7% to 3.4%); ‘miscellaneous goods and services’ (from 10.1% to 5.1%); and ‘alcoholic beverages and tobacco’ (from 7.7% to 5.2%). On a monthly basis, the inflation rate increased by 0.1% compared to 0.5% recorded a month earlier.
The Namibia Consumer Price Index is designed to cover the entire economic territory of the country and includes national, urban and rural households of all income groups as derived from the Namibia Household Income and Expenditure Survey (NHIES). For the compilation of the National CPI, all administrative regions of the country were grouped into three Zones, with each zone considered as one geographic area as follows:Zone 1 (Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa,and Zambezi); Zone 2 (Khomas) and Zone 3 (||Kharas, Erongo, Hardap and Omaheke).
