The annual inflation rate in Namibia rose to 5.6 percent in November 2018 vs 5.1 percent in October. It was the highest inflation rate since September last year, as prices increased further for food & non-alcoholic beverages (4.7 percent vs 3 percent in October); transport (13.8 percent vs 13.6 percent); alcoholic beverages & tobacco (5.7 percent vs 4.9 percent); furniture & household equipment (2.5 percent vs 0.9 percent); communication (1.3 percent vs 1.1 percent); and recreation & culture (5.1 percent vs 4.8 percent). Meanwhile, cost of clothing & footwear dropped (-0.5 percent vs 0.3 percent) and prices slowed for housing & utilities (3.7 percent vs 3.8 percent); miscellaneous goods & services (3.6 percent vs 4.4 percent) and restaurant & hotels (2.9 percent vs 3.5 percent). Also, inflation was steady for education (9.9 percent, the same as in October) and health (4.8 percent). On a monthly basis, consumer prices went up 0.7 percent, after a 0.4 percent gain in the prior month. Inflation Rate in Namibia averaged 9.46 percent from 1973 until 2018, reaching an all time high of 20.54 percent in June of 1992 and a record low of 0.94 percent in May of 2005.
Inflation Rate in Namibia is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Namibia to stand at 5.50 in 12 months time. In the long-term, the Namibia Inflation Rate is projected to trend around 6.00 percent in 2020, according to our econometric models.