Africa-Press – Namibia. IN December 2022, the annual inflation rate increased by 6.9 % compared to 4.5 % recorded in December 2021.
This is according to the latest Namibia Consumer Price Index (NCPI) released by the Namibia Statistics Agency.
On a monthly basis, the inflation rate slowed to 0.3 % compared to 0.5 % recorded a month earlier. The main contributors to the annual inflation rate were Transport (2.2 percentage points); Food and non-alcoholic beverages (2.2 percentage points); Alcoholic beverages & tobacco (0.6 percentage points) and Housing, water, electricity, gas and other fuels contributed (0.2 percentage points).
Overall, for the year 2022, the average annual inflation rate rose by 6.1 % compared to 3.6 % registered in the year 2021, mainly driven by the Transport inflation.
The NSA report also showed that the Khomas region was the most expensive to live in as, Zone 2 (Khomas) recorded an annual inflation rate of 7.6 %, while Zone 1 (Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa, and Zambezi) recorded annual inflation rates of 6.5 %, while Zone 3 (||Kharas, Erongo, Hardap, Omaheke) recorded an annual inflation rate of 6.4 %. On a monthly basis, the Zone 1 and Zone 2, both registered inflation rate of 0.3 % and Zone 3 recorded an inflation rate of 0.2%.
The average retail prices of selected products for the month of December 2022 revealed that consumers in Zone 3 paid the lowest price for honey (500g) at N$72.37 followed by Zone 2 at N$84.10 while consumers in Zone 1 paid the highest price of N$86.05. For Chicken, frozen assorted pieces per 1.5 kg, consumers in Zone 3 paid the highest price at N$78.33, while the lowest price was recorded in Zone 1 at N$69.49.
PICTURED: File photo for illustrative purposes only. Photo: Contributed
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