The annual inflation rate in Namibia eased to 2.3 percent in October of 2020 from 2.4 percent in the previous month. Main downward pressure came from prices of clothing & footwear (-6.1 percent vs -5 percent in September); housing & utilities (-1.3 percent, the same pace as in September) and transport (-1.2 percent vs 1.3 percent). Meantime, cost slowed for restaurants & hotels (0.8 percent vs 2.5 percent). In contrast, inflation quickened mostly for food & non-alcoholic beverages (7.1 percent vs 6.6 percent); alcoholic beverages & tobacco (4.3 percent vs 3.8 percent) and communication (3.8 percent vs 2.2 percent). On a monthly basis, consumer prices edged up 0.1 percent, after increasing 0.3 percent in the previous month. source: Central Bureau of Statistics, Namibia
Inflation Rate in Namibia averaged 9.20 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 November of 2020.
Inflation Rate in Namibia is expected to be 2.30 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 2.40 percent in 2021 and 2.50 percent in 2022, according to our econometric models.