The annual inflation rate in Namibia rose to 2.40 percent in August of 2020 from 2.1 percent a month earlier. It was the highest inflation rate since March. Main upward pressure came from prices of food & non-alcoholic beverages (6.8 percent vs 6.1 percent in July); education (7 percent, the same pace as in July); miscellaneous goods & services (5.8 percent vs 5.9 percent); communications (3.2 percent vs 2.3 percent) and transport (1.2 percent vs -1.2 percent). In contrast, cost fell for housing & utilities (-1.5 percent, the same pace as in July); clothing & footwear (-5.1 percent vs 4.3 percent) and restaurants & hotels (-0.9 percent vs 0.8 percent). On a monthly basis, consumer prices went up 0.4 percent, after increasing 0.2 percent in the prior month.
Inflation Rate in Namibia averaged 9.23 percent from 1973 until 2020, 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. This page provides the latest reported value for - Namibia Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Namibia Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Central Bureau of Statistics, Namibia
Inflation Rate in Namibia is expected to be 1.70 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 2.50 in 12 months time. In the long-term, the Namibia Inflation Rate is projected to trend around 3.00 percent in 2021 and 3.20 percent in 2022, according to our econometric models.