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.