The Namibia Statistics Agency (NSA) has released the Consumer Price Index for September 2017 on 12 October 2017. The annual inflation rate for September 2017 increased for the first time this year. Herewith a few highlights:
Despite a slight acceleration of price increases, we expect the annual inflation rate to remain below last year’s inflation rate of 6.7%. Relatively modest price increases for food products remain good news for in particular low-income earners and the poor who spend a much larger share of their income on food than the average Namibian household (16.5%). The decision to leave fuel prices unchanged in October will reduce price pressure on transportation costs with subsequent positive impacts on the inflation rate in October.