The annual inflation rate in Namibia fell to 2.1 percent in January 2020 from 2.6 percent in the previous month. It was the lowest inflation rate since August 2005, amid slowing prices of alcoholic beverages & tobacco (2.6 percent vs 3.2 percent in December); recreation & culture (4.3 percent vs 5.2 percent): hotels, cafes & restaurants (1.1 percent vs 4.1 percent) and furnishings (2.9 percent vs 3 percent). Also, cost fell for clothing & footwear (-0.7 percent vs 0.5 percent). In contrast, inflation quickened for food & non-alcoholic beverages (2.2 percent vs 1.7 percent); transport (5 percent vs 2 percent); miscellaneous goods & services (6.3 percent vs 1.3 percent) and housing & utilities (2 percent vs 1.9 percent). On a monthly basis, consumer prices went up 0.6 percent, after doping 0.1 percent in the previous month.
Inflation Rate in Namibia averaged 9.31 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. 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 4.50 in 12 months time. In the long-term, the Namibia Inflation Rate is projected to trend around 4.70 percent in 2021 and 5.00 percent in 2022, according to our econometric models.