By: Hertha Ekandjo
The mining and producer price index for the third quarter of 2022 rose to 130.5 basis points, up
from 102.1 recorded in Q3 of 2021, which translates into an annual inflation rate of 27.9%
compared to -17.8% recorded in the third quarter of 2021.
This is according to the Namibia Statistic Agency's (NSA) producer price index (PPI) bulletin
for the third quarter of 2022.
Mining and quarrying cover section indices of uranium, non-ferrous metals (copper, gold, lead
and zinc), and other mining and quarrying (diamonds).
NSA says that during the third quarter of 2022, the index for mining of uranium and thorium ores
(ISIC 0721) increased to 102.4 basis points, representing an increase of 48.4% when compared
to 69.0 basis points recorded during the same period of last year.
The index for mining of other non-ferrous metal ores includes mining of copper, lead, zinc, and
gold. This category of PPI recorded an increase of 23.9%t, from 149.1 basis points recorded in
Q3 of 2021 to 184.7 basis points registered in Q3 of 2022.
"The index for other mining and quarrying includes mining and extraction of diamonds, which is
a significant economic activity in Namibia's mining sector. During the third quarter of 2022, the
index for this sector rose to 132.3 basis points from 98.3 basis points recorded during the same
quarter a year ago, resulting in a year-on-year inflation rate of 34.7%," the bulletin noted.
Focusing on the manufacturing index, encompasses processing and preserving of meat,
manufacturing of malt liquors and malt, manufacture of soft drinks, production of mineral waters
and other bottled waters, the manufacture of cement, lime and plaster and the manufacture of
basic precious and other non-ferrous metals.
According to NSA, during the quarter under review, the index for manufacturing stood at 175.7
basis points from 156.1 basis points recorded in the same quarter of the previous year resulting in
12.5% growth in prices,
On the PPI for processing and preserving meat, the agency said that during the third quarter of
2022, the PPI for processing and preserving of meat increased to 193.9 basis points, an increase
of 19.0 basis points when compared to 174.9 basis points recorded in the same quarter of 2021.
"The annual inflation rate for this category stood at 10.9 percent in the quarter under review, a
decline of 20.0 percentage points on the rate of 30.9 percent recorded in the same quarter of the
preceding year," NSA highlighted.
The PPI for this category covers output by producers in the processing and preserving of the
meat sector. This sector includes the operation of slaughterhouses including slaughtering,
dressing, packing of meat and the production of fresh, chilled or frozen meat.
It also includes the production of dried, salted or smoked meat and other meat products, for
example, sausages, salami, pâtés, and boiled ham.
Furthermore, the index for the manufacturing of malt liquors and malt increased to 135.2 basis
points during the third quarter of 2022, compared to 124.8 basis points recorded in the
corresponding quarter of 2021.
NSA stated that this resulted in an annual inflation rate of 8.3% in the prices of goods
manufactured within this sector compared to 0.3% obtained in the same quarter of last year.
This category constitutes the PPI for the manufacture of soft drinks and; production of mineral
waters and other bottled waters (ISIC 1104). The index of this class was recorded at 124.7 basis
points in the third quarter of 2022 compared to 115.4 basis points registered in the same quarter
of 2021.
The annual inflation rate for this category stood at 8.1 percent compared to 4.3% recorded in the
corresponding quarter of 2021.
