The annual inflation rate in Namibia rose to 2.1 percent in May of 2020 from 1.6 percent in the previous month. Main upward pressure came from prices of food & non-alcoholic beverages (4.7 percent vs 4.2 percent in April); furnishings (3.7 percent vs 2.2 percent); recreation & culture (5.9 percent vs 5 percent); miscellaneous goods & services (6.1 percent vs 6 percent) and alcoholic beverages & tobacco (2.2 percent vs 0.4 percent). In contrast, costs decreased for transport (-0.1 percent, the same pace as in April); housing & utilities (-0.6 percent vs -0.5 percent) and clothing & footwear (-1.3 percent vs -1.7 percent). On a monthly basis, consumer prices were up 0.4 percent, after decreasing 0.3 percent in the previous month.
Inflation Rate in Namibia averaged 9.26 percent from 1973 until 2020, 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. This page provides the latest reported value for - Namibia Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Namibia Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Central Bureau of Statistics, Namibia
Inflation Rate in Namibia is expected to be 2.00 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 2.30 in 12 months time. In the long-term, the Namibia Inflation Rate is projected to trend around 3.00 percent in 2021 and 3.20 percent in 2022, according to our econometric models.