WINDHOEK, Sept. 10 (Xinhua) -- Namibia's annual inflation rate climbed to 5 percent in August, its highest level since February 2024, as surging fuel prices drove up transport costs, the Namibia Statistics Agency (NSA) said Thursday.
The rate rose from 4.4 percent in July and 3.2 percent in August last year, according to the agency's latest Consumer Price Index bulletin. Monthly inflation accelerated to 0.6 percent from 0.1 percent in July.
Petrol and diesel prices increased 25.1 percent year on year, driving a 17.1-percent rise in the cost of operating personal transport equipment. Higher vehicle licence and registration fees also contributed to the increase, the bulletin showed.
Overall transport prices rose 13.2 percent, the largest annual increase among the main expenditure categories, compared with a decline of 1 percent a year earlier. Transport contributed 2.0 percentage points to headline inflation, making it the biggest contributor.
Public transportation service prices increased 14.9 percent, with higher fares recorded across taxi, rail, air and bus services.
Meanwhile, annual inflation for food and non-alcoholic beverages eased to 4 percent from 5.2 percent in August last year.
Housing, water, electricity, gas and other fuels recorded annual inflation of 4.3 percent, up from 3.4 percent a year earlier, contributing 1 percentage point to the overall rate.
Core inflation, which excludes selected volatile food and energy items, stood at 3.8 percent in August, the NSA said. ■