The annual inflation rate in Namibia eased for the second straight month to 6.9% in December of 2022, from 7% in the prior month. It was the lowest reading since July of 2022, largely due to a slowdown in prices of transportation (14.8% vs 18.3% in November), namely public transportation services (1.4% vs 7.1%). However, prices continued to climb for food & non-alcoholic beverages (11.8% vs 9.4%), notably oils & fats (20.8%), fruit (20.5%) and bread & cereals (18.2%); hotels, cafes & restaurants (11.7% vs 11.3%); furnishings & household equipment (10.6% vs 10.6%) and recreation & culture (5.6% vs 5%), among others. On a monthly basis, consumer prices were up by 0.3%, following a 0.5% increase in the prior month. source: Central Bureau of Statistics, Namibia

Inflation Rate in Namibia averaged 9.00 percent from 1973 until 2022, 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 February of 2023.

Inflation Rate in Namibia is expected to be 5.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Namibia Inflation Rate is projected to trend around 3.80 percent in 2024, according to our econometric models.

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Namibia Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-12-15 08:15 AM Nov 7% 7.1% 7%
2023-01-12 08:15 AM Dec 6.9% 7% 6.1%
2023-02-15 08:05 AM Jan 6.9%


Related Last Previous Unit Reference
Inflation Rate 6.90 7.00 percent Dec 2022
Consumer Price Index CPI 158.41 157.99 points Dec 2022
Inflation Rate MoM 0.30 0.50 percent Dec 2022
CPI Transportation 177.98 179.79 points Dec 2022
CPI Housing Utilities 137.96 138.19 points Dec 2022
Import Prices 112.20 108.00 points Dec 2021
GDP Deflator 132.38 131.90 points Dec 2021
Export Prices 128.90 126.90 points Dec 2021

Namibia Inflation Rate
In Namibia, the most important category in the consumer price index is Housing and Utilities (28 percent of total weight). Food and Non-Alcoholic Beverages accounts for 17 percent; Transport for 14 percent; Alcoholic beverages and Tobacco for 13 percent; Furnishings and Household Equipment for 6 percent; and Miscellaneous Goods and Services for 5 percent. Communication, Education, Recreation and Culture, Clothing and Footwear, Health and Hotels, Cafés and Restaurants account for the remaining 18 percent of total weight.
Actual Previous Highest Lowest Dates Unit Frequency
6.90 7.00 20.54 0.94 1973 - 2022 percent Monthly
2012M12=100, NSA

News Stream
Namibia December Inflation Rate Slows to 5-Month Low
The annual inflation rate in Namibia eased for the second straight month to 6.9% in December of 2022, from 7% in the prior month. It was the lowest reading since July of 2022, largely due to a slowdown in prices of transportation (14.8% vs 18.3% in November), namely public transportation services (1.4% vs 7.1%). However, prices continued to climb for food & non-alcoholic beverages (11.8% vs 9.4%), notably oils & fats (20.8%), fruit (20.5%) and bread & cereals (18.2%); hotels, cafes & restaurants (11.7% vs 11.3%); furnishings & household equipment (10.6% vs 10.6%) and recreation & culture (5.6% vs 5%), among others. On a monthly basis, consumer prices were up by 0.3%, following a 0.5% increase in the prior month.
2023-01-12
Namibia Inflation Rate Edges Down to 4-Month Low
The annual inflation rate in Namibia ticked down to 7% in November of 2022, from 7.1% in the prior month, reaching the lowest level since July, as prices slowed slightly for recreation & culture (5% vs 5.2% in October). However, strong inflationary pressures continued to come from other CPI items such as transportation (18.3% vs 17.8%); food & non-alcoholic beverages (9.4% vs 9.1%) and hotels, cafes & restaurants (11.3% vs 10.6%). On a monthly basis, consumer prices increased by 0.5%, the most in four months, after a 0.2% rise in the prior month.
2022-12-15
Namibia Inflation Rate Steady at 7.1%
Annual inflation rate in Namibia was steady at 7.1% in October of 2022, the same as in September, and holding close to 2017-highs of 7.3% reached in August. Transport (17.8% vs 19.5% in September) and food and non-alcoholic beverages (9.1% vs 9.3%) continued to make the biggest upward contributions. Other big pressures came from cost of alcoholic beverages and tobacco (6.7% vs 5.6%); housing and utilities (2.3% vs 2.1%); and furnishing household equipment and routine maintenance of the house (9.6% vs 9.4%). Compared to September, the CPI rose 0.2%, following a 0.1% increase in September.
2022-11-15