ANNUAL inflation stood at 4,9% in January, the same rate as in December last year, figures released by the
The annual inflation rates for the major groups comprising the Namibian Consumer Price Index were food and non-alcoholic beverages (seven percent), alcoholic beverages and tobacco (7,6%), housing, water, electricity, gas and other fuels (2,4%) and transport (6,8%).
The agency said the deficit in December was due to high import expenditure valued at N$8,4 billion compared to export earnings valued at N$3,1 billion. The increase in production by the copper smelter at Tsumeb led to a rise in domestic demand for ores, which contributed to high import expenditure. Export earnings declined by 28,6% to N$3,1 billion as revenue of sales to
Expenditure on imports showed an increase of 32,5%, from N$6,3 billion in November to N$8,3 billion in
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