Inflation decreases in July year-on-year: NSA

The Namibia Statistics agency (NSA) on Thursday stated that there has been a decrease in inflation rates in goods annual percentage in July 2023 compared to July 2022.

In a report of the Namibia Consumer Price Index (NCPI) issued to Nampa, the NSA Statistician General and Chief Executive Officer, Alex Shimuafeni, stated that the Goods percentage stood at five point five per cent in July 2023 compared to ten point ten per cent witnessed in a year ago.

Shimuafeni stated that the services inflation rate also stood at three point one per cent in July compared to two point five per cent recorded in July 2022.

“Month-on-month inflation rates for goods and services were estimated at zero point four per cent and zero point zero per cent in July 2023 compared to zero point one per cent and zero point zero per cent registered during the previous month, respectively,” the report said.

In the same report, the Statistician-General stated that the NCPI is designed to cover the entire territory of the country and includes national, urban and rural households of all income groups as derived from the Namibian Household Income and Expenditure Survey (NHIES).

“All administrative regions of the country were grouped into three zones, where zone one includes Kavango East, Kavango West, Ohangwena Omusati, Oshana, Oshikoto, Otjozondjupa, and Zambezi. Zone two includes Khomas and zone three includes //Kharas, Erongo, Hardap and Omaheke,” he said.

Shimuafeni said zone one year-on-year inflation rate stood at four point seven per cent during the period under review, compared to six point two per cent registered during July 2022, Zone two year-on-year inflation rate for the period under review stood at four point six per cent, a slowdown when compared to seven point seven per cent recorded during the same period of 2022, while zone three year-on-year inflation rate slowed to four point two per cent in July 2023, down from six point six per cent recorded during the same period of the previous year.

Source: The Namibian Press Agency