The annual inflation rate in Namibia hit 3.9 per cent in April 2021 from 3.1 per cent in the previous month, and 1.6 per cent recorded in the corresponding month of 2020, Namibia Statistics Agency stated on Friday.
It explained that the figure represented the highest annual inflation rate the country recorded since June 2019. In January and February 2021, the country’s inflation stood at 2.7 per cent apiece.
According to the latest report, food and non-alcoholic beverages, as well as transport, spiked the inflation for the month under review.
The country’s Statistician-General, Alex Shumuafeni, was quoted as saying, “Food and non-alcoholic beverages, which account for 16.5 per cent of the basket of goods and services, increased by 5.9 per cent year-on-year, while transport, which accounted for 14.3 per cent of the basket, increased by 7.5 per cent.”
Monthly inflation for April rose by 0.4 per cent, from 0.5 per cent in March, Shimuafeni added.
The south-west Africa’s overall inflation is projected to average around 3.2 per cent for 2021, according to its central bank.
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