WINDHOEK, JAN 17 — Namibia’s annual inflation rose to 4.5 percent in December 2021, compared to 4.1 percent in November 2021, according to the country’s statistics agency on Friday.
According to the Namibia Statistics Agency (NSA), local inflation during 2021 was driven higher by supply-side factors, leading to higher imported merchandise goods prices and oil prices.
“Goods inflation averaged 5.2 percent, while services inflation averaged 2.1 percent for 2021,” the NSA said.
Namibian investment research firm, Simonis Storm Securities (SSS) in an inflation report on Friday, forecast an average annual inflation rate of 4.7 percent for 2022, owing to a weaker exchange rate, sustained high global oil prices and higher food prices.
“According to our Economic Outlook 2021 Report, we highlighted shortages in various product markets which would provide inflationary pressures to both food and generally imported merchandise goods in 2022,” the firm added.
Meanwhile, the biggest drivers of Namibia’s local inflation remain transport, food and non-alcoholic beverages , alcohol beverages and tobacco. – XINHUA
Namibia’s annual inflation rises to 4.5 pct in December
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