The annual inflation rate in Namibia rose to 3.1 percent in March of 2021 from 2.7 percent in the previous month. It was the highest inflation rate since September of 2019. Main upward pressure came from prices of food and non-alcoholic beverages (6.6 percent vs 5.5 percent in February), especially meat (13.3 percent) and fruit (10.7 percent); transport (2.4 percent vs 0.2 percent), namely the purchase of vehicles (8 percent vs 8.1 percent) and furnishings (4.1 percent vs 3.5 percent). On a monthly basis, consumer prices were up 0.5 percent, after increasing 0.4 percent in the previous month. source: Central Bureau of Statistics, Namibia
Inflation Rate in Namibia averaged 9.14 percent from 1973 until 2021, 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 May of 2021.
Inflation Rate in Namibia is expected to be 2.50 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 3.20 in 12 months time. In the long-term, the Namibia Inflation Rate is projected to trend around 2.50 percent in 2022 and 2.40 percent in 2023, according to our econometric models.