Annual inflation rate reduced in the month of December 2019 to 2.6 per cent from 5,1 per cent recorded in December 2018, the Namibia Consumer Price Index released today

The annual inflation rate reduced in the month of December 2019 to 2.6 per cent from 5,1 per cent recorded in December 2018, the Namibia Consumer Price Index (NCPI), released today, indicated.

Released by the Namibia Statistics Agency, the report said transport; housing, water, electricity and gas; alcoholic beverages and hotels, cafes, and restaurants affected the slow-down.

The decline in transport from 10,9 per cent in December 2018 to 2,0 per cent last month was a result of a decrease in the price levels of vehicle purchases and operation of personal transport equipment.

All sub-components in the housing, water, electricity and gas group in the NCPI decreased from 3.1 per cent in December 2018 to 1,9 per cent December 2019.

The NCPI bulletin says the main drivers of annual inflation during the month of December 2019, were mainly education which stood at 12 per cent, recreation and culture standing at 5,2 per cent while hotels, cafes and restaurant contributed about 4.1 per cent.

Source: Namibia Press Agency