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Namibia's inflation hit 7.3 pct in August

WINDHOEK
2022-09-16 01:57

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WINDHOEK, Sept. 15 (Xinhua) -- Namibia's consumer price index (NCPI) for August, a main gauge of inflation, rose to 7.3 percent compared to 3.4 percent in August 2021, according to statistics released Thursday.

Transport, and Food and Non-Alcoholic Beverages components continued to be the main contributors to the annual inflation rate with a contribution of 3.3 percentage points and 1.6 percentage points, respectively, Namibia's Statistics Agency (NSA) Statistician General Alex Shimuafeni said in the NCPI bulletin.

According to NSA data, in the basic food category, oils and fats prices increased by 26.1 percent in August 2022 compared to 18.1 percent registered during the same period last year.

According to economist Theo Klein, the country's inflation is likely to persistently come in above 7 percent during the third quarter of 2022.
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