Namibia records lowest inflation rate in April

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inflation

Namibia’s annual inflation rate in April slowed to 1.6 percent from 4.5 percent recorded in April 2019, the government said Thursday.

According to Namibia Statistics Agency, the slow growth in the annual inflation was largely attributed by alcoholic beverages and tobacco (from 7.5 percent to 0.4 percent),housing, water, electricity, gas, and other fuels category (from 2.2 percent to 0.5 percent), and transport (from 7.1 percent to 0.1 percent).

Meanwhile Statistician-General, Alex Shimuafeni said the fallout from the COVID-19 has had a large disinflationary effect on prices in April due to the large demand shock, and plunge in oil prices.

“The annual inflation in April 2020 of 1.6 percent, makes it the lowest inflation rate recorded in the last decade for Namibia,” he said. Enditem

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