Sharp brake in inflation
Sharp brake in inflation
13 December 2019 | Ekonomie
Figures released by the Namibia Statistics Agency (NSA) yesterday showed annual overall inflation in November was 2.5%. This is the slowest annual increase in prices since August 2005, Cirrus Capital said. “As has been the case for much of the year, the slowdown is attributed to the four largest categories within the NCPI basket which collectively account for 71.7% of the entire basket,” Cirrus said. Food and non-alcoholic beverage prices increased just 2.9% on an annual basis, compared to 4.0% last month and 4.7% a year ago. Prices in the alcoholic beverages and tobacco category increased a meagre 2.7%, significantly lower than the 3.9% last month and the 5.7% recorded last year. Housing, water, electricity, gas and other fuels saw recorded annual inflation of 1.9%, the same as October but lower than the 3.7% in November 2018. Transport recorded the largest difference in price growth. Annual inflation in this category is 0.1%, compared to 1.5% in October and 13.8% last year. “This is due to no change in taxi fares in well over a year, as well as petrol prices being 90c/l cheaper across all grades,” Cirrus said. Photo Nampa
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