Annual inflation up to 5.3% in February

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The latest figures from the Namibia Statistics Agency (NSA) reveals that the annual inflation rate increased from 5.3 percent in February 2015 to 6.1 percent in February 2016. On a monthly basis, the general level of prices in Namibia stood at 0.6 percent, compared to 2.4 percent recorded a month earlier.

On an annual basis, the inflation rate emanated from increases in the prices of alcoholic beverages and tobacco of 7.9 percent, education at 7.6 percent. housing, water, electricity, gas and other fuels at 7.4 percent. Food and non-alcoholic beverages stood at 7.2 percent, health at 7 percent, hotels, cafes and restaurants at 5.8 percent and recreation and culture at 5.6 percent.

The annual inflation rates for goods and services were estimated at 6.1 percent and 6.2 percent, as compared to 3.5 and 3.6 percent registered in February 2015.

These figures are an indication that prices of services increased slightly faster than those of goods during the period under review.

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