Namibia’s annual inflation rate for December slows down to 2.4 percent

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Inflation
Inflation

Namibia’s annual inflation rate for December 2020 fell to 2.4 percent, down from 2.6 percent of December 2019, the country’s statistics agency said Friday.

The drop in annual inflation was mainly attributed to declines in prices of clothing and footwear, housing, water, electricity, gas and other fuels, and transport, Statistician-General Alex Shumuafeni said.

“Overall for the year 2020, the average inflation rate slowed down, registering an increase of 2.2 percent as compared to 3.7 percent increase that was witnessed in the year 2019,” he said.

On a monthly basis, the December inflation rate was stagnant compared to 0.1 percent recorded in November 2020, Shimuafeni said. Enditem

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