The annual inflation rate in Namibia increased marginally to 2.6 percent in December 2019 from 2.5 percent in the prior month, amid rising prices of transport (2 percent vs 0.1 percent in November); alcoholic beverages & tobacco (3.2 percent vs 2.7 percent); recreation & culture (5.2 percent vs 4.9 percent); hotels, restaurants & hotels (4.1 percent vs 3.5 percent) and furnishings (3 percent vs 2.6 percent). On the other hand, inflation slowed for food & non-alcoholic beverages (1.7 percent vs 2.9 percent) and clothing & footwear (0.5 percent vs 1.9 percent) while it remained steady for housing & utilities (at 1.9 percent). On a monthly basis, consumer prices dropped 0.1 percent, after increasing 0.1 percent in the previous month. Inflation Rate in Namibia averaged 9.33 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. source: Central Bureau of Statistics, Namibia
Inflation Rate in Namibia is expected to be 3.40 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 3.80 in 12 months time. In the long-term, the Namibia Inflation Rate is projected to trend around 4.00 percent in 2020, according to our econometric models.