INFLATION eased to 5,5 in September from six percent in August, the Namibian Statistics Agency said on Friday. Inflation was 6,7% in September last year.
The agency said the All Items Index for September increased by 0,7 percentage points from 205,4 recorded in August to 206,1. The Agency added that this increase resulted in a monthly inflation rate of 0,4% as compared to 0,5% recorded in August.
"The increase based on the All Items Index for September was due to increases recorded in all the groups comprising the Namibia Consumer Price Index (NCPI) with the exception of hotels, cafes and restaurants and miscellaneous goods and services, which showed decreases of 0,4% and 0,1% respectively.
The annual inflation rate for September was estimated at 5,5% compared to six percent recorded in August , a decrease of 0,5 percentage points, while the corresponding rate recorded during the same period last year was 6,7%.
The All Items Index since December 2001 (base month) to September 2013 increased from 100 to 206,1, which shows that prices of goods and services comprising the NCPI have more than doubled during the indicated period," the Agency said.
The index for food and non-alcoholic beverages rose from 241,6 recorded in August to 242, 8 in September, resulting in a monthly increase of 1,2 percentage points. The September increase in the food and non-alcoholic beverages Index was caused by rising prices in the categories of food products (1,8%), oils and fats (1,3%), bread and cereals (one percent) meat (0,8%), vegetables including potatoes and other tubers (0,7%) and fish (0,6%).
The Agency said the goods annual inflation rates trends followed those for services hovering between 2,5% and 6,2%.
"The monthly and annual inflation rates for goods were estimated at -1,3% and 2,5% as compared to those for services, which stood at 2,9% and 10,5% respectively.
The increase in prices for services was due to increases in prices recorded in the subcomponents of repair of furnishings and floor covering (8,3%) water supply, sewerage service and refuse collection (eight percent), package holiday (3,5%) and public transportation services (1,2%)," the Agency said.
The annual inflation rates for the major groups comprising the NCPI recorded in September were food and non-alcoholic beverages 5,2%, housing, water, electricity, gas and other fuels 7,4% and transport 7,2%. The corresponding rates registered during the same period last year were 9,2, 7,6 and 6,3 percent respectively. The average monthly and average annual inflation rates for the period January to September 2013 stood at 0,5 and 6,1% as compared to 0,5 and 6,4% estimated during the same period last year.