Inflation rate unchanged at 3%

The June inflation rate that is 3% has remained unchanged compared to the one recorded in May this year.

However, the inflation rate slowed down to 0.3% on a monthly basis.

Namibian Statistics Agency (NSA) Deputy Director of Corporate Communications, Iipumbu Sakaria said the moderate slow down on monthly inflation rate came about as a result of decreases in prices of food and non-alcoholic beverages as well as clothing and footwear which dropped to 0.1% and 0.5% as compared to 0.5% and 0.7% registered in the preceding month.

“For the period between June 2014 and June 2015, annual inflation rate fluctuated between 6.1% and 2.9%. The highest annual inflation rate recorded during the period was 6.1% recorded in June 2014 and the lowest of 2.9% was registered in April 2015,” said Sakaria.

Hotels and restaurants, health, recreation and culture as well as clothing and footwear were the main drivers of annual inflation rate for the month of June 2015.

The inflation rate for hotels and restaurants increased from 5.2% to 6% and health from 5% to 5.3%.

Recreation and culture increased from 3.2% to 3.8% whilst clothing and footwear increased from 2.4% to 3.4%.

“The contraction in transport inflation that was moderate, from minus 3.3% on an annual basis in the month of May 2015 to minus 3% in the month under review, also contributed to the overall increase in consumer price inflation,” Sakaria noted.