The Namibia Statistics Agency (NSA) has released the Consumer Price Index for October 2017 on 15 October 2017. The annual inflation rate for October 2017 dropped again after an increase last month. Herewith a few highlights:
Overall, the current trend of the inflation rate supports our view that this year’s annual inflation rate will remain below last year’s inflation rate of 6.7%. Consumers continue to benefit from lower prices for basic food items such as bread and cereals and relatively modest increases for food items in general. However, inflation is expected to pick up for November due to the increase in fuel prices by NAD0.40 per litre for petrol and NAD0.60 per litre for diesel. Since transport accounts for the third largest category in the consumption basket (14.3%), any price increases within this category influences the overall inflation rate.