Month-on-month inflation decreased to 3,7 per cent in August 2019 from 4,4 per cent in August 2018

Month-on-month inflation decreased to 3,7 per cent in August 2019 from 4,4 per cent in August 2018, the Namibia Consumer Price Index (NCPI) shows.

According to the NCPI released by the Namibia Statistics Agency yesterday, transport; housing, water, electricity and gas; alcoholic beverages and hotels, cafes and restaurants affected the slow-down in inflation.

The decline in transport from 9,7 per cent in August 2018 to 6,1 per cent last month was as a result of decreases 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 except for regular maintenance and repair of dwellings, which increased from 3,4 per cent in August 2018 to 3,6 per cent in August 2019.

Annual inflation for alcoholic beverages and tobacco stood at 3,9 per cent, down from 5,4 per cent registered in August 2018, while hotels, cafes and restaurants decreased from 4,5 per cent to 3,4 per cent over the period under review.

The monthly inflation rate for August 2019 also declined from 0,2 per cent in July 2019 to 0,1 per cent in August 2019.

Source: Namibia Press Agency