Advertise with fastmoving.co.za
 
 

Consumer price index records drop in girls clothing - Namibia
Consumer price index records drop in girls clothing - Namibia

Consumer price index records drop in girls clothing - Namibia

INTERNATIONAL NEWS

Economist.com.na - Feb 17th 2015, 12:20

Namibia Statistics Agency (NSA’s) Acting General Statistician Liina Kafidi, reported a decline in girls’ clothing prices.  

According to the NSA, girls clothing prices have been fluctuating between (-2.1 and 2.2) %, due to back to school specials during the month of January.

Other prices that went down include those in the operation of personal transport equipment (petrol/diesel) (-2.7 and 1.9%), as well as newspaper, books, and stationary (-1.7 and 1.8%).

The decrease of prices in newspaper, books, and stationary are mainly attributed to the back to school period and the personal transport equipment decrease, which has been occurring over the past few months, are attributed to declines in the price of crude oil.

The latest Namibia Consumer Price Index (NCPI) report states that the annual basis Inflation rate for January 2015 decreased by 0.1% points, a continuation of the downward trend in inflation, which developed since July 2014. During the period January 2014 to January 2015, the inflation fluctuated between 6.1 and 4.5%.

The NSA also noted a decrease in the inflation rate for January 2015 as it fell from 4.6 to 4.5% on an annual basis but it increased from -0.2 to 0.8% on a monthly basis.

“On a monthly basis, inflation was affected by increases in the prices of goods and services in all the groups comprising the NCPI with the exception of transport, clothing and footwear and recreation and culture which declined by 1.5, 0. 7 and 0.2 % respectively,” said Kafidi.

“The monthly inflation figures recorded a month earlier for these categories stood at 0.2 and -1.3% while the recreation and culture sub component showed no change.

On an annual basis however, inflation was driven by prices in the categories of miscellaneous goods and services, recreation, culture, housing, and water, which expanded to 6.6, 4.9 and 3.6 % as compared to 3.1, 4.2 and 2.4 % registered during the same period last year. The all items index increased to 110.6 up from 105.9 in January 2014,”she said.

The major drivers of the annual inflation were, mainly because of relative importance in terms of weight of these categories in the overall inflation basket, alcoholic beverages and tobacco (7.5%), food and non-alcoholic beverages (6.5%), and transport (1.5%). Additional relatively smaller contributions to inflation were recorded from the minor groups (by basket weighting), such as miscellaneous goods and services registering annual inflation rates of (6.6%), recreation and culture (4.9%), and education (4.4%).From Economist.com.na 

Related News

New Wernhil Market under construction - Namibia
14/03/2016 - 09:25
Construction for the upgrade of the Wernhil Market has commenced. The City of Windhoek (CoW) has identified the need for this upgrade as additional trading spaces are needed for the traders operating in the Central Business District (CBD).

SABMiller lures young entrepreneurs - Namibia
10/03/2016 - 11:14
SABMiller Namibia is promising young entrepreneurs a shot at their dreams with the chance to share in a pot of N$1 million as part of SABMiller’s Kickstart competition.

Clover pulls back in Nigeria as oil rout takes toll
02/03/2016 - 09:15
Dairy producer Clover cited solid festive season demand in its home market for an uptick in interim earnings, but warned of risks elsewhere in Africa and said it would make no more investments in Nigeria.

Atterbury’s shopping mall development in Walvis Bay, Namibia goes - Namibia ahead
29/02/2016 - 12:02
Atterbury announced today the development of a new R650 million mall in the key Namibian port city of Walvis Bay.

Veggies thrive in Oranjemund climate - Namibia
15/02/2016 - 10:00
The cool, moist conditions in the otherwise bleak Oranjemund, are ideal for vegetable production, as a local self-help group has proven. Last week, the town’s main commercial force, Namdeb, donated a compost shredder to the vegetable project so that higher yields can be achieved.