{"id":22984,"date":"2019-12-12T15:48:20","date_gmt":"2019-12-12T13:48:20","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=22984"},"modified":"2019-12-12T15:48:21","modified_gmt":"2019-12-12T13:48:21","slug":"ncpi-november-2019","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/ncpi-november-2019\/","title":{"rendered":"NCPI \u2013 November 2019"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

The Namibian\nannual inflation rate slowed for a third consecutive month, moderating to 2.5%\ny\/y in November, hitting the lowest levels since August 2005. Prices increased\nby 0.1% m\/m. On an annual basis prices in four of the twelve basket categories\nrose at a quicker rate in November than in October, two categories recorded\nincreases consistent with the prior month, while the annual rate of price\nincreases in six categories slowed during the month of November. Prices for\ngoods rose by 1.7% y\/y while prices for services rose 3.4% y\/y.<\/p>\n\n\n\n

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

The housing and utilities category was the largest\ncontributor to annual inflation in November due to its large weighting in the\nbasket, accounting for 0.53 percentage points of the total 2.5% annual\ninflation rate. Price inflation for this category once again came in at 1.9%\ny\/y but remained relatively flat month-on-month. The regular maintenance and\nrepair of dwellings subcategory recorded an increase in prices of 5.0% y\/y, which\nis a higher rate of increase than the 2.5% y\/y registered the previous month.\nMonth-on-month, prices in this subcategory increased by 2.2%. Prices in the\nelectricity, gas and other fuels subcategory declined by 0.8% y\/y. Annual\ninflation for rental payments remained unchanged at 2.3% y\/y in November.<\/p>\n\n\n\n

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

Food & non-alcoholic beverages, was the second\nlargest contributor to annual inflation, accounting for 0.51 percentage points of\nthe 2.5% annual inflation rate. Prices in this category increased by 0.4% m\/m\nand 2.9% y\/y. Prices in eleven of the thirteen sub-categories recorded\nincreases on an annual basis, with the largest increases being observed in the\nprices of fruits and vegetables, recording price increases of 14.0% y\/y and\n14.4% y\/y respectively. Meat prices decreased by 0.3% y\/y, compared to the 1.9%\ny\/y increase recorded in the previous month. Due to the ongoing drought 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 upward pressure on prices.<\/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

According to the zonal data, prices rose 0.5% m\/m in the\nnorthern regions, but printed flat in the rest of the country on a monthly\nbasis. On an annual basis, the Windhoek and surrounding area, recorded the\nlowest inflation rate at 2.0% in August, with the mixed zone 3 covering the\nsouth, east and west of the country recording the highest rate of inflation at 3.6%\ny\/y. Inflation in the northern region of the country slowed to 2.1% y\/y.<\/p>\n\n\n\n

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\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nThe Namibian annual inflation rate surprised further to the downside,\nslowing to 2.5% in November, and is trending well below South Africa\u2019s November\ninflation figure of 3.6%. Inflationary pressure in Namibia remains low as gloomy\ndomestic economic conditions translates to muted demand for both goods and\nservices. IJG\u2019s inflation model forecasts\nan average inflation rate of 3.8% y\/y in 2019 and 3.5% y\/y in 2020. The largest\nupside risk to this forecast is higher food costs as the drought affects local\nfood 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 for a third consecutive month, moderating to 2.5% y\/y in November, hitting the lowest levels since August 2005. Prices increased by 0.1% m\/m. On an annual basis prices in four of the twelve basket categories rose at a quicker rate in November than in \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-22984","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\/22984","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=22984"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/22984\/revisions"}],"predecessor-version":[{"id":22991,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/22984\/revisions\/22991"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=22984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=22984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=22984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}