The annual Inflation Rate increased by 3.4 percent

Martin Endjala Namibia’s annual inflation rate for housing, water, electricity, gas, and other fuel components, which account for 28.4 percent of the consumer basket, saw a significant improvement as it registered a 3.4 percent increase in December 2023 compared to the 2.1 percent observed in December 2022. The country’s overall annual inflation rate stood at 5.3 percent in December 2023, showing a decline from the 6.9 percent recorded in December 2022. Every month, the inflation rate for December 2023 recorded a deflation of 0.1 percent, a decrease from the 0.3 percent recorded in the preceding month. These statistics are based…