The annual inflation rate in Namibia rose further to 6.8 percent in July of 2022 from 6 percent in the previous month. It was the highest reading since March of 2017, mainly due to soaring prices of transport (20.9 percent vs 18.6 percent in June); food & non-alcoholic beverages (8.4 percent vs 7 percent), of which oils & fats (26.5 percent) and fruit (24.5 percent) and hotels, cafes & restaurants (9.8 percent vs 8.6 percent). On a monthly basis, consumer prices increased by 1 percent, the same pace as in the previous month. source: Central Bureau of Statistics, Namibia
Inflation Rate in Namibia averaged 9.02 percent from 1973 until 2022, 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 August of 2022.
Inflation Rate in Namibia is expected to be 6.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Namibia Inflation Rate is projected to trend around 4.00 percent in 2023 and 3.70 percent in 2024, according to our econometric models.