Namibia’s annual inflation rate slows to 2.4 percent in March

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Inflation
Inflation

Namibia’s annual inflation rate for March slowed to 2.4 percent from 4.5 percent recorded in March 2019, the country’s statistics agency said Tuesday.

On a monthly basis, the inflation dropped to 0.1 percent from 0.3 percent recorded in February 2020, Namibia Statics Agency (NSA) statistician general, Alex Shimuafeni said in the released Consumer Price Index.

Shimuafeni said the slow growth in the annual inflation was largely attributed to the decline of 0.3 percent recorded in the housing, water, electricity, gas, and other fuels category compared to a growth of 2.1 percent recorded during the same period a year earlier.

Meanwhile, the agency said the twelve-month average annual inflation rate for April 2019 to March 2020 was estimated at 3.2 percent. Enditem

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