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Annual inflation at 4.1 per cent in June 2021

Summary

The annual inflation rate for June 2021 stood at 4.1 per cent compared to 2.1 per cent recorded in June 2020, the Namibia Consumer Price Index report indicates.The Namibia Statistics Agency report states that monthly, the inflation rate increased by 0…

The annual inflation rate for June 2021 stood at 4.1 per cent compared to 2.1 per cent recorded in June 2020, the Namibia Consumer Price Index report indicates.

The Namibia Statistics Agency report states that monthly, the inflation rate increased by 0.5 per cent compared to 0.3 per cent recorded a month earlier and the main drivers to the June 2021 annual inflation increase were food and non-alcoholic beverages and transport.

“The highest change in the annual inflation rate was witnessed in the categories of transport that increased by 9.6 per cent, followed by food and non-alcoholic beverages at 7.3 per cent; miscellaneous goods and services by 6.4 per cent and furnishings, household equipment and routine maintenance of the house by 5.6 per cent,” it said.

Increases were further witnessed in the categories of health (3.3 per cent); alcoholic beverages and tobacco by 2.5 per cent, recreation and culture by 1.8 per cent while communications; housing, water, electricity, gas and other fuels increased by 1.3 per cent.

Food and non-alcoholic beverages which accounts for 16.5 per cent of the total consumer basket increased by 7.3 per cent during June 2021, compared to 4.7 per cent registered during the same period last year. The main contributor to the increase of this category was the food sub-category that increased by 7.7 per cent while the non-alcoholic beverages increased at a slower pace of 2.6 per cent when compared to 3.6 per cent in June 2020.

The zonal inflation rates for the month of June 2021 revealed that Zone 1 which includes Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa and Zambezi regions recorded an annual inflation rate of 3.9 per cent.

Zone 2 which includes the Khomas Region recorded an annual inflation rate of 3.7 per cent, while Zone 3 - Erongo, Hardap, Omaheke and ||Kharas regions registered an inflation rate of 4.9 per cent.

“The average retail prices of selected products for the month of June 2021 revealed that consumers residing in Zone 3 paid more for beef at N.dollars 132.65 per kg followed by Zone 2 with N.dollars 126.21 per kg, while for consumers in Zone 2 paid more for chicken assorted pieces at N.dollars 72.12 followed by Zone 3 at N.dollars 70.96,” adds the report.

Source: Namibia Press Agency