Inflation rate in Namibia increased to 5.1% in October of 2018 from 4.8% in the previous month. It was the highest inflation rate since December 2017, mainly due to higher prices of food & non-alcoholic beverages (3% from 2.5% in September), as food (3% from 2.6%), oils & fats (4.5% from 4%), vegetables (7.6% from 5.2%) and non-alcoholic beverages (2.8% from 1.8%). Also, prices rose faster for transport (13.6% from 12.9%); furniture & household equipment (0.9% from 0.3%) and miscellaneous goods & services (4.4% from 3.9%); and cost rebounded for communication (1.1% from -1.2%) and clothing & footwear (0.3% from -3.2%). Meantime, inflation was steady for housing & utilities (3.8%, the same as in September) and education (9.9%), while prices slowed for alcoholic beverages & tobacco (4.9% from 5.6%); recreation & culture (4.8% from 5%); health (4.8% from 5%) and restaurant & hotels (3.5% from 3.6%). On a monthly basis, consumer prices went up 0.4%, following a 0.8% gain in September. Inflation Rate in Namibia averaged 9.46 percent from 1973 until 2018, 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 5.50 in 12 months time. In the long-term, the Namibia Inflation Rate is projected to trend around 6.00 percent in 2020, according to our econometric models.