Namibia bank governor says overall inflation to average 3.7 percent for 2021

Namibia Central Bank
Bank Of Namibia

Namibia’s overall inflation is projected to average around 3.7 percent for 2021, slightly lower that the previous forecast of 3.9 percent, Bank of Namibia (BoN) governor Johannes Gawaxab said on Wednesday.

According to Gawaxab, annual average inflation rose to 3.5 percent in the first nine months of 2021, up from 2.2 percent for the same period in the previous year.

“The increase in inflation was mainly driven by base effects, food and transport categories. This was on account of supply constraints for certain food categories and a rise in international oil prices respectively,” he said.

On a monthly basis, overall inflation increased slightly to 3.5 percent in September 2021, from 3.4 percent in August. Enditem

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