Transport contributes to upsurge in monthly inflation

WINDHOEK, 15 AUG  – Transport, housing, water, electricity and gas contributed to the upsurge of inflation in the consumer basket during the month of July 2018.
This is according to the Namibia Consumer Price Index (NCPI) released by the Namibia Statistics Agency (NSA) yesterday, which added that the annual inflation for transport increased by 6,5 percentage points.
The significant increase resulted from the increase recorded in the price levels of the operation of personal transport equipment and private transportation.
The annual inflation in transport stood at 8,9 per cent in July 2018 compared to 2,4 per cent in July 2017.
Monthly inflation for housing, water, electricity, gas and other fuels rose to 0,8 per cent in July 2018 compared to negative 0,1 per cent in June 2017, the index adds.
The annual inflation rate continued to slow down in July, ending at 4,5 per cent compared to 5,4 per cent recorded during the same period last year.
Meanwhile, the month-to-month inflation also increased to 1,9 per cent in July 2018, from zero per cent in June 2018.
The annual inflation for alcoholic beverages and tobacco increased by 3,2 percentage points, from 6,8 per cent last month, compared to 3,6 per cent in July 2017.
The NSA said the increase was influenced by price increase in alcoholic beverages, which went up to 7,5 per cent in July 2018 compared to three per cent in July 2017.
NAMPA