Consumers residing in the //Kharas, Hardap and Omaheke regions paid the highest prize for maize meal during November, as the inflation rate for the month dipped slightly.
According to the Namibia Consumer Price Index (NCPI) bulletin for November, consumers in Zone 3 – comprising the arid //Kharas, Erongo, Hardap and Omaheke regions – paid N$71.19 for a 5kg bag of maize meal, which is considered a staple food in many households countrywide.
This was followed by Zone 2 (Khomas region) at N$70.99, with consumers in Zone 1– comprising the Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa and Zambezi regions – paying the lowest price of N$70.36.
According to the bulletin, issued by Namibia Statistics Agency chief executive Alex Shimuafeni yesterday, the country’s headline annual inflation rate for November 2024, stood at 3% compared to 5.7% registered in November 2023.
“On a monthly basis, the inflation rate for November was 0.3%, slightly lower than the 0.4% registered in October 2024,” said Shimuafeni.
The primary drivers of the annual inflation rate in November 2024 were housing, water, electricity, gas and other fuels and food and non-alcoholic beverages, each contributing 1.1 percentage points, while the category alcoholic beverages and tobacco contributed 0.7 percentage points.
The highest change in the annual inflation rate was witnessed in the hotels, cafes and restaurants category (5.6%); recreation and culture (5.5%); the food and non-alcoholic beverages (5.3%) and alcoholic beverages and tobacco (4.8%).
The bulletin notes that housing, water, electricity, gas and other fuels accounted for 28.4% of the consumer basket.
“The annual inflation rate for this category recorded an increase of 4.4% during November 2024, compared to 3.2% in November 2023,” noted the bulletin.
Food and non-alcoholic beverages, which accounted for 16.5% of the NCPI basket, registered an annual inflation rate of 5.3% in November 2024, compared to 9.2% during November 2023.
The food sub-category accounts for 14.8% of the consumer basket in the NCPI.
“Within the food sub-component, bread, and cereals account for the highest weight of food items that consumers purchase (4.8%), followed by meat (3.5%); sugar, jam, honey, syrups, chocolate and confectionery (1.4%); while vegetables and milk, cheese and eggs are at 1.2% each.
The fish subcomponent registered an annual inflation rate of 2.4% in November 2024, compared to the 16.9% recorded in November 2023.
“This significant slowdown is primarily reflected in the price levels of dried, smoked or salted fish and seafood from 13.5% to -6.9%; bottled/tinned fish from 14.7% to – 1.5% and fresh, chilled and frozen fish from 18% to 4.9%,” noted the bulletin.
The price of vegetables, including potatoes and other tubers, increased by 4.9% during November 2024 compared to 16.9% in November 2023.
The transport category, which accounts for 14.3% of the consumer basket, registered a deflation rate of -3.5% during November 2024, compared to an increase of 5.1% in the same month of the preceding year.
The decrease in the annual inflation rate for this component was mainly reflected in the subcomponent of operation of personal transport equipment (from 4.6% to -6.6%).
According to the bulletin, the annual inflation rate for alcoholic beverages and tobacco, which account for 12.6% of the consumer basket, stood at 4.8% during the period under review, compared to 8% registered a year ago.
“For this category, the month-on-month inflation rate stood at 0.5% compared to 1% recorded a month ago.”
– email: matthew@namibian.com.na
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