{"id":22686,"date":"2019-11-14T18:07:35","date_gmt":"2019-11-14T16:07:35","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=22686"},"modified":"2019-12-10T08:39:21","modified_gmt":"2019-12-10T06:39:21","slug":"ncpi-october-2019","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/ncpi-october-2019\/","title":{"rendered":"NCPI \u2013 October 2019"},"content":{"rendered":"\n
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The Namibian annual inflation rate edged lower, moderating to 3.0% y\/y in October, following the 3.3% y\/y increase in prices recorded in September. On a month-on-month basis, prices rose by 0.2% following a 0.3% price change recorded in September. On an annual basis, prices in two of the twelve basket categories rose at a quicker rate in October than in September. Prices in two categories grew at a steady pace, while the rate of price increases in eight categories slowed during the month of October. Prices for goods rose by 2.7% y\/y while prices for services increased by 3.4% y\/y.<\/p>\n\n\n\n

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Food & non-alcoholic beverages, the second largest\nbasket item in weighting, accounted for 0.7% of the total annual inflation\nfigure. Prices in this category rose by 4.0% y\/y, a slowdown from inflation of 4.4%\ny\/y recorded in September. Most of the sub-categories of food and non-alcoholic\nbeverages continue to show relatively low monthly price increases, while three\nof the sub-categories showed monthly price decreases. The largest increases\nwere observed in the prices of fruits which increased by 14.5% y\/y and\nvegetables which increased by 12.8% y\/y. \nMeat prices increased by 1.9% y\/y, compared to the 0.2% y\/y decrease recorded\nin the previous month. Due to the ongoing drought over the past months there\nhas been a large-scale slaughtering of cattle. This has reduced the number of\nlivestock in the country and going forward meat prices will likely increase as\nrestocking of farms will cause an upward pressure on prices.<\/p>\n\n\n\n

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The housing and utilities category was the second largest\ncontributor to annual inflation in October, accounting for 0.5% of the total 3.0%\ninflation figure. Price inflation for this category came in at 1.9% y\/y but\nremained relatively flat month-on-month. Annual inflation for rental payments\nremained unchanged at 2.3% y\/y in October and will likely remain this low for\nthe rest of the year. The regular maintenance and repair of dwellings\nsubcategory recorded an increase in prices of 2.5% y\/y, which is a lower rate\nof increase than the 3.4% y\/y registered the previous month. Month-on-month,\nprices in this subcategory increased by -0.01%.<\/p>\n\n\n\n

The alcohol and tobacco basket category recorded\ninflation of 3.9% y\/y, alcoholic beverages recorded an increase of 1.0% m\/m and\n5.7% y\/y and thereby caused the growth in inflation in the overall category. Tobacco\nprices recorded an increase of 0.6% m\/m but decreased by 4.1% y\/y. <\/p>\n\n\n\n

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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 2.4% in October, with\nthe mixed zone 3 covering the south, east and west of the country recording the\nhighest rate of inflation at 3.9% y\/y. Inflation in the northern region of the country increased\nto 2.8% y\/y.<\/p>\n\n\n\n

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The Namibian\nannual inflation rate continues to slow down, reaching 3.0% in October, and is\nthe lowest annual rate since May and June 2015. The Namibian annual inflation\nrate has been below 4.1% for six consecutive months. The inflation rate continues\nto trend below that of neighbouring South Africa\u2019s September inflation figure\nof 4.1% y\/y. In September a lower inflation rate was recorded due to the base\neffects as the increase in prices of public transport rolled out of the\nmeasurement period. October\u2019s low inflation rate is as a result of the low\ninflation rate in the food, and housing, water, and electricity categories.<\/p>\n\n\n\n

The low business\nand consumer confidence continue to dampen the demand for goods and services, which\nresults in lower overall inflation. IJG\u2019s inflation model forecasts an average inflation rate of 3.8% y\/y in\n2019 and 3.4% y\/y in 2020. The largest upside risk to this forecast is higher\nfood costs as the drought affects local food production.<\/p>\n\n\n\n

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

The Namibian annual inflation rate edged lower, moderating to 3.0% y\/y in October, following the 3.3% y\/y increase in prices recorded in September. On a month-on-month basis, prices rose by 0.2% following a 0.3% price change recorded in September. On an annual basis, prices in two of the twelve basket \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-22686","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\/22686","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=22686"}],"version-history":[{"count":2,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/22686\/revisions"}],"predecessor-version":[{"id":22694,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/22686\/revisions\/22694"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=22686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=22686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=22686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}