Namibia’s annual inflation rate in February increases by 4.5 percent

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inflation

Namibia’s annual inflation rate in February 2022 continued on an upward trend, increasing by 4.5 per cent compared to 2.7 percent recorded in February 2021, the country’s statistics agency (NSA) said Tuesday.

The main contributors to the annual inflation rate for February 2022 were transport (1.8 percentage points); food and non-alcoholic beverages (1.0 percentage points); alcoholic beverages and tobacco and furnishing, household equipment and routine maintenance of the house each contributed (0.5 percentage points); housing, water, electricity, gas, and other fuels (0.3 percentages points) and recreation and culture; education and hotels, cafes and restaurant each contributed (0.1 percentage points), NSA, statistician general Alex Shimuafeni said.

According to Shimuafeni, on a monthly basis, the inflation rate stood at 0.2 percent compared to 1.1 percent recorded a month earlier.

“The slowdown in the monthly inflation rate was reflected mainly in hotels, cafes, and restaurants; furnishing, household equipment and routine maintenance of the house; alcoholic beverages and tobacco,” he concluded. Enditem

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