The annual inflation rate in Namibia fell to 4.1 percent in May 2019 from 4.5 percent in the previous month, hitting its lowest level since May last year. Prices slowed mostly for housing & utilities (1.9% vs 2.2% in April); food & non-alcoholic beverages (4.4% vs 5.3%); alcoholic beverages & tobacco (5.5% vs 7.5%) and hotels, cafes & restaurants (4.7% vs 5.3%). Meantime, inflation was steady for furnishings (at 1%); recreation & culture (at 4.5%) and miscellaneous goods & services (at 2.2%). In contrast, cost advanced further for transport (7.6% vs 7.1%) and remained elevated for education (12 percent). On a monthly basis, consumer prices went down 0.1 percent, after increasing 0.4 percent in the previous month. Inflation Rate in Namibia averaged 9.40 percent from 1973 until 2019, 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 4.20 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 4.70 in 12 months time. In the long-term, the Namibia Inflation Rate is projected to trend around 4.80 percent in 2020, according to our econometric models.