Economic

Namibia’s inflation rises to 4.5 pct: central bank


WINDHOEK, June 12 — Namibia’s inflation increased to 4.5 percent during the first four months of 2019, compared to 3.6 percent in the same period of 2018, said the central bank on Wednesday.

Central bank governor Ipumbu Shiimi said in a monetary policy announcement in Windhoek that the rise was mainly due to higher prices of food and non-alcoholic beverages as well as transport.

“On a monthly basis, inflation stood at 4.5 percent for both March and April 2019, having increased from 4.4 percent reported in February 2019,” he added.

Shiimi said the overall inflation is projected to average 4.5 percent in 2019.

Meanwhile, Shiimi said international reserves increased and remained sufficient to support the peg of the Namibia dollar to the South African rand and meet the country’s international financial obligations. – XINHUA