Monthly inflation surges

Monthly inflation rate went up about 0.3 percentage points from September according to the latest Consumer Price Index (CPI) released by the National Bureau of Statistics (NBS) within the National Planning Commission, (NPC).

“The All Items Index for October 2012 increased by 2.2 percentage points up from 195.3 in September 2012 to 197.5. This resulted in a monthly inflation rate of 1.1%, compared to the September 2012 rate of 0.8% - a difference of 0.3 percentage points. The increase resulted from monthly increases recorded in all the components comprising the Namibia CPI,” NBS states, adding, the index for food and non-alcoholic beverages for October increased to 235.6; a monthly increase of about 4.9 percentage points from 230.7 recorded in September this year.

This increase was due to increases recorded in all the sub-groups comprising the food and non-alcoholic group with the exception of fish; milk, cheese and, eggs; as well as coffee, tea and cocoa, which registered declines of 0.1%, 1.2% and 0.9%, respectively.”

The latest statistics show that the annual inflation rate for last month stood at 7.1% compared to the 6.1% recorded during the same period last year.

“The annual inflation rates for the major groups comprising the National Consumer Price Index (NCPI) were food and non-alcoholic beverages (10.1%), housing, water, electricity, gas and other fuels (7.7%) as well as transport (6.1 %),” the NBS adds.