{"id":28043,"date":"2021-05-19T09:56:56","date_gmt":"2021-05-19T07:56:56","guid":{"rendered":"https:\/\/ijg.net\/research\/?p=28043"},"modified":"2021-05-19T09:56:57","modified_gmt":"2021-05-19T07:56:57","slug":"ncpi-april-2021","status":"publish","type":"post","link":"https:\/\/ijg.net\/research\/ncpi-april-2021\/","title":{"rendered":"NCPI \u2013 April 2021"},"content":{"rendered":"\n
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The Namibian annual inflation\nrate rose to 3.9% y\/y in April, with prices in the overall NCPI basket\nincreasing by 0.4% m\/m. On a year-on-year basis, overall prices in six of the\ntwelve basket categories rose at a quicker rate in April than in March and three\nof the basket categories recording slower rates of inflation, while three of\nthe basket categories remained constant. Prices for goods increased by 5.2% y\/y\nwhile prices for services rose by 2.1% y\/y.<\/a><\/p>\n\n\n\n

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Food & non-alcoholic beverages, the second largest\nbasket item by weighting, continued to be the largest contributor to annual\ninflation, accounting for 1.2 percentage points of the total 3.9% inflation\nrate. Prices in this category increased by 0.4% m\/m and 5.9% y\/y. Prices in eleven\nof the sub-categories recorded price increases on an annual basis, while warm\nbeverage prices fell 0.5% y\/y and non-alcoholic beverage prices remained\nunchanged. The largest increases were observed in the prices of meat which\nincreased by 15.83% y\/y, fruit which rose by 10.55% y\/y and oils and fats,\nwhich increased by 7.50% y\/y.<\/p>\n\n\n\n

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The alcoholic beverages and tobacco basket item was the\nsecond largest contributor to the annual inflation rate in April, with prices\nincreasing by 4.2% y\/y. On a monthly basis, prices in this basket item rose by\n0.4%. The alcoholic beverages sub-category recorded a price increase of 0.3%\nm\/m and 3.3% y\/y. Tobacco prices rose 1.1% m\/m, and 8.3% y\/y.<\/p>\n\n\n\n

The housing and utilities, transport, and miscellaneous\ncategories each accounted for 0.30 percentage points of the total annual\ninflation rate in April. Price inflation for housing and utilities remained\nsteady on a monthly basis but rose 1.3% y\/y. The regular maintenance and repair\nof dwellings subcategory recorded an increase in prices of 6.8% y\/y. Prices in\nthe electricity, gas and other fuels subcategory rose 0.9% y\/y, while the\nannual inflation for rental payments stood at 1.3% y\/y. Transport prices rose 1.2%\nm\/m and 7.5% y\/y, which was driven by the operation of personal transport\nequipment, which rose 1.9% m\/m and 8.1% y\/y, the increase resulting from a low\nfuel price base a year ago. Prices in the miscellaneous category rose 0.4% m\/m and\n6.6% y\/y.<\/p>\n\n\n\n

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The rising\ninflation rate is to be expected as, the measurement period includes a low\nbase, due to the lockdown restrictions that constrained economic activity a\nyear ago and Namibia is in now a recovery phase of the business cycle as it\nemerges from a trough. IJG\u2019s inflation model forecasts an average inflation\nrate of 3.6% y\/y in both 2021 and 2022, indicating moderate inflation over the\nnext two years. Seeing as inflation seems to be relatively contained and\nexpectations for economic growth are also relatively low, we expect the central\nbanks to remain reluctant to intervene with tighter monetary policies such as\nhiking interest rates. The South African Reserve Bank\u2019s Monetary Policy\nCommittee will meet this week and the South African repo rate is expected to\nremain steady at 3.5%.<\/p>\n\n\n\n

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The Namibian annual inflation rate rose to 3.9% y\/y in April, with prices in the overall NCPI basket increasing by 0.4% m\/m. On a year-on-year basis, overall prices in six of the twelve basket categories rose at a quicker rate in April than in March and three of the 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-28043","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\/28043","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=28043"}],"version-history":[{"count":1,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/28043\/revisions"}],"predecessor-version":[{"id":28049,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/posts\/28043\/revisions\/28049"}],"wp:attachment":[{"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/media?parent=28043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/categories?post=28043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijg.net\/research\/wp-json\/wp\/v2\/tags?post=28043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}