NSA releases Consumer Price Index for July 2017
The Namibia Statistics Agency (NSA) has released the Consumer Price Index for July 2017 on 10 August 2017. Inflation continued its downward trend that started in February 2017, when inflation declined from 8.2 percent in January to 7.8 percent. Herewith a few highlights:
The continuing slowdown in food price inflation is good news for the poorer households that spend the largest share of their income on food. However, future prices for maize at the South African Futures Exchange (Safex) suggest that we can expect slight price increases towards the end of the year, while wheat prices are expected to drop. The current trend of the inflation rate supports our view that the annual inflation rate for 2017 will drop below last year’s inflation rate of 6.7 percent, which is good news for the consumer as well as for Government’s fiscal targets.