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Namibia's inflation accelerated to 4,9% in December
Namibia's inflation accelerated to 4,9% in December

Namibia's inflation accelerated to 4,9% in December

SERVICES NEWS

Namibian.com.na - Jan 20th 2014, 12:03

Annual inflation accelerated to 4,9% in December from 4,4% in November, figures released by Namibia Statistics Agency revealed yesterday. 

The December figure and the October rate -also at 4,9%- were the second lowest rate of the year after the November rate of 4,4%.

The highest rates for 2013 were recorded in January and June at 6,2%. Inflation declined from January to 5,8% in February, the rising slightly to 5,9% in March, staying 5,9% in April before slowing to 5,8% in May.

After the high of 6,2% in June, the rate dropped to 5,9% in July, rising to the second highest rate of the year of 6% in August. After August, inflation was on a downward spiral reaching 5,4% in September, 4,9% in October.

Food Inflation

The agency said 2013 was characterised by relatively stable food and non-alcoholic beverages price movements on an annual basis as compared to the preceding year. The annual inflation rates for this category fluctuated between 4,3% and 8,2% recorded in the months of November and June respectively.

The two digit level annual inflation rates were witnessed in the year 2012 where the rate of inflation hovered between 7,2% and 11,4% registered in August and February as compared to the single digit recorded throughout the year 2013.

During the year 2013 the subcategory fruit recorded the highest annual inflation rate of 16,6% recorded in the month of June while a year earlier the highest annual inflation rate of 18,6% was registered in the meat category in April. On the other hand the lowest annual inflation rates of -1,7% and 1,6% for the years 2012 and 2013 were recorded for fruit and bread and cereals subcategories observed in the months of April and November.

The food and non-alcoholic beverages index for the month of December 2013 stood at 106,1 compared to 105,4 recorded in November 2013, translating into an increase of 0,7 percentage points. These increases were shown in the subgroups of meat (1,8%), fruits (1,4%), milk, cheese and eggs (1,2%), bread and cereals (1,2%), food (0,8%) and fish (0,3%).

In the category of meat the increase resulted from increases recorded in bacon (4,2%), minced meat (3,9%), beef (2,7%) and mutton/ lamb (2,4%). - See more at: http://www.namibian.com.na/indexx.php?id=8098&page_type=story_detail#sthash.sMCFYY9C.dpufFrom Namibian.com.na  

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