Namibia’s inflation rate in August slows down to 2.4 percent


Namibia’s annual inflation rate in August slowed to 2.4 percent from 3.7 percent recorded in August 2019, according to the country’s statistics agency (NSA) on Tuesday.

NSA Statistician-General Alex Shimuafeni in the country’s Consumer Price Index report said the slowed growth in the annual inflation rate for August 2020 was mainly as a result of declines in the price levels of housing, water, electricity, gas, and other fuels that declined by 1.5 percent compared to an increase of 1.9 percent recorded in August 2019.

“Further, prices of transport also reflected a slowdown by increasing by 1.2 percent in August 2020 compared to 6.1 percent in August 2019,” he added.

Meanwhile, Shimuafeni said on a monthly basis, the inflation rate increased to 0.4 percent compared to 0.2 percent recorded last month.

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