Namibia’s inflation rate increased by 6 percent in October

Martin Endjala Namibia’s annual inflation rate stood at six percent for October 2023, this is an increase compared to the 5.4 percent year-on-year (y/y) rate recorded in September 2023. This marks the third consecutive increase since the 4.5 percent y/y deceleration observed in July 2023. According to Simonis Storm Security Economist Halleluya Ndimulunde on Friday, the monthly inflation rate for October 2023 remained stable, with the same rate as the 0.8 percent month-on-month rate reported in September 2023. While the category of food and non-alcoholic beverages continues to be the primary contributor to headline inflation, the transport category took the…