Browsing: horticultural products

• The annual inflation rate for February 2023 increased by 7.2 per cent compared to 4.5 per cent recorded in February 2022.
• On a monthly basis, inflation rate increased to 0.4 per cent compared to 1.1 per cent registered in the earlier month.
• Load-shedding in South Africa is preventing farmers from buying livestock from Namibia.  

In February, the cost of goods and services increased more sharply and the outlook does not appear promising, particularly regarding food, which saw a 14 per cent hike. The Namibian Statistics Agency disclosed inflation figures for February yesterday, with the month displaying a 7.2 per cent rate, one percentage point higher than January’s inflation rate.

This 7.2 per cent is taking the country back to August 2022 when inflation reached a peak of 7.3 per cent. While most goods and services’ prices have increased overall, service inflation continues to weigh on headline inflation, rising at a …