Namibia’s annual inflation slows down in August

Namibia’s annual inflation rate slowed to 3.7 percent in August 2019 from 4.4 percent registered during the same period last year, according to statistics released on Thursday.

The decrease resulted mainly from a downturn registered in transport, housing, water, electricity, gas, and other fuels, health, alcoholic beverages and tobacco, miscellaneous goods and services and Hotels, cafes and restaurants, according to Namibia Statistics Agency (NSA).

The 12 months average annual and average monthly inflation rates from September 2018 to August 2019 stood at 4.5 percent and 0.3 percent. Corresponding rates recorded during the same period a year earlier stood at 4.3 percent and 0.4 percent respectively, it said.

The average annual and average monthly inflation rates for the period January 2019 to August 2019 were estimated at 4.2 percent and 0.3 percent respectively, according to Statistician-General, Alex Shimuafeni.