WINDHOEK, Feb. 8 (Xinhua) -- Namibia's annual inflation rate for January 2024 stood at 5.4 percent, compared to 7 percent recorded in January 2023, according to Namibia Consumer Price Index (NCPI) statistics released on Thursday.

Food and non-alcoholic beverages and housing, water, electricity, gas and other fuels continued to be the main contributors to inflation, accounting for 1.3 percentage points and 1.1 percentage points respectively, Namibia Statistics Agency (NSA) Statistician General Alex Shimuafeni said in an NCPI bulletin.

On a monthly basis, price levels in Namibia increased by 1.3 percent during the period under review, compared to a deflation of 0.1 percent recorded during the preceding month.

According to Shimuafeni, the annual inflation rate for housing, water, electricity, gas and other fuel components, which account for 28.4 percent of the consumer basket, increased by 4.5 percent during January 2024 compared to 2.7 percent registered in January 2023.

From January 2023 to January 2024, the lowest monthly inflation rate was witnessed in December 2023. Enditem

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