Namibia's annual inflation rate declined to 3.3 percent in September 2019, its lowest level since November 2015, from 3.7 percent in the previous month, as prices slowed mostly for transport (2.5 percent vs 6.1 percent in August); alcoholic beverages & tobacco (3.3 percent vs 3.9 percent) and restaurants & hotels (2.8 percent vs 3.4 percent). In contrast, cost continued to advance for food & non-alcoholic beverages (4.4 percent vs 4.1 percent); housing & utilities (2.0 percent vs 1.9 percent); miscellaneous goods & services (2.7 percent vs 2.3 percent); furnishings (3.1 percent vs 3.0 percent); communications (2.5 percent vs 1.7 percent) and recreation & culture (4 percent vs 3.5 percent). On a monthly basis, consumer prices went up 0.3 percent, after rising 0.1 percent in the previous month. Inflation Rate in Namibia averaged 9.36 percent from 1973 until 2019, reaching an all time high of 20.54 percent in June of 1992 and a record low of 0.94 percent in May of 2005.
Inflation Rate in Namibia is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Namibia to stand at 3.80 in 12 months time. In the long-term, the Namibia Inflation Rate is projected to trend around 4.20 percent in 2020, according to our econometric models.