{"id":22358,"date":"2019-10-15T14:56:49","date_gmt":"2019-10-15T12:56:49","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=22358"},"modified":"2019-10-15T14:56:51","modified_gmt":"2019-10-15T12:56:51","slug":"ncpi-september-2019","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/ncpi-september-2019\/","title":{"rendered":"NCPI \u2013 September 2019"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

The Namibian\nannual inflation rate slowed to 3.3% y\/y in September, following the 3.7% y\/y\nincrease in prices recorded in August. On a month-on-month basis, prices rose\n0.3% following a 0.1% price change recorded in August. On an annual basis,\nprices in seven of the twelve basket categories rose at a quicker rate in September\nthan in August. One category remained unchanged, while the rate of price\nincreases in four categories slowed for the month of September. Prices for\ngoods rose by 3.0% y\/y while prices for services increased by 3.5% y\/y.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Food & non-alcoholic beverages, the second largest\nbasket item in weighting, accounted for 0.8% of the total annual inflation\nfigure. Prices in this category rose by 4.4% y\/y, faster than the 4.1% recorded\nin August. Most of the sub-categories of food and non-alcoholic beverages\nshowed relatively low monthly increases, while four of the sub-categories\nshowed monthly decreases. The largest increases were observed in the prices of\nvegetables which increased by 15.1% y\/y and fruits which increased by 11.7%\ny\/y. The price of meat saw a price decrease of 0.2% y\/y. The decline in meat\nprices is not expected to last however, as it is largely driven by high supply\nof animals as farmers slaughter more during the drought. Restocking farms in\nthe future will likely lead to upward pressure on meat prices.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The housing and utilities category was the second largest\ncontributor to annual inflation in September, accounting for 0.5% of the total\n3.3% inflation figure. Price inflation for this category came in at 2.0% y\/y,\nbut remained relatively flat month-on-month, increasing only 0.1%. Annual\ninflation for rental payments remained unchanged at 2.3% in September and will\nlikely remain this low for the rest of the year. The regular maintenance and\nrepair of dwellings subcategory recorded an increase in prices of 3.4% y\/y,\nwhich is a somewhat lower rate of increase than the 3.6% y\/y registered the\nprevious month. Month-on-month, prices in this subcategory decreased by 0.3%.<\/p>\n\n\n\n

The education basket category recorded inflation of 12.0%\ny\/y, with the cost of pre-primary and primary education growing at a rate of\n12.6% y\/y, while secondary- and tertiary education recorded price increases of\n11.0% y\/y and 12.7% y\/y, respectively. All three subcategories printed no price\nincreases on a month on month basis. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The zonal data shows that on a monthly basis, prices\nprinted flat in the southern, eastern and western parts of the country, while\nrising elsewhere in the country. On an annual basis, the Windhoek and\nsurrounding area, recorded the lowest inflation rate of 2.7% in September, with\nthe mixed zone 3 covering the south, east and west of the country recording the\nhighest rate of inflation at 4.4% y\/y. Inflation in the northern region of the country increased\nto 3.0% y\/y.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThe Namibian annual inflation rate continued to slow, reaching 3.3% in\nSeptember, and is the lowest annual rate since November 2015. The moderation in\nSeptember\u2019s annual figure was mostly a result of base effects, as the increase\nin prices of public transportation services in September 2018 no longer influences\nthe annual inflation figure. The ongoing recession, coupled with low business and\nconsumer confidence, has dampened the demand for goods and services, translating\nto lower overall inflation. IJG\u2019s\ninflation model forecasts an average inflation rate of 3.8% y\/y in 2019 and 3.9%\ny\/y in 2020. The largest upside risk to this forecast is higher food costs, as\nthe drought affects local food production.\n\n\n\n<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

The Namibian annual inflation rate slowed to 3.3% y\/y in September, following the 3.7% y\/y increase in prices recorded in August. On a month-on-month basis, prices rose 0.3% following a 0.1% price change recorded in August. On an annual basis, prices in seven of the twelve basket categories rose at \u2026 Continue reading → <\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,19],"tags":[],"class_list":["post-22358","post","type-post","status-publish","format-standard","hentry","category-economicresearch","category-inflation"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/22358","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/comments?post=22358"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/22358\/revisions"}],"predecessor-version":[{"id":22365,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/22358\/revisions\/22365"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=22358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=22358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=22358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}