WINDHOEK, Nov. 6 — Namibia’s annual inflation rate increased to 3.6 percent in October, up from 3 percent in the same month last year, according to the Namibia Statistics Agency (NSA) Consumer Price Index Bulletin released Thursday.
The main contributors to the annual inflation rate were housing, water, electricity, gas, and other fuels, which collectively accounted for one percentage point.
These were followed closely by food and non-alcoholic beverages, which contributed 0.9 percentage points, while alcoholic beverages and tobacco contributed 0.6 percentage points, said NSA Statistician General Alex Shimuafeni.
“On a monthly basis, inflation increased to 0.5 percent, up from a stable rate of 0.0 percent observed in the preceding month,” he added.
Shimuafeni, meanwhile, said that the core inflation stood at 3.7 percent, slightly above the headline rate of 3.6 percent.
“Core inflation excludes volatile items from the overall inflation calculation,” he said, adding that these volatile items typically include food and energy, which are prone to significant price fluctuations due to factors such as weather conditions, geopolitical events, or changes in supply and demand.
