Namibia’s annual inflation rate dropped to 4.8% in April 2024, compared to 6.1% in the same month last year, according to the Namibia Statistics Agency (NSA). This marks a positive trend for the country’s economic stability.
However, there was a slight increase in inflation on a monthly basis, going from 0.0% in March to 0.7% in April. This suggests that prices are still rising, albeit at a slower pace compared to the previous year.
The NSA has also implemented a new measure: core inflation. This excludes volatile elements like food and energy prices, providing a clearer picture of underlying inflationary trends. Namibia’s core inflation rate stood at 4.3% in April, slightly lower than the headline inflation of 4.8%.