The cost of living in Namibia continued to rise in October, with the country’s annual inflation rate reaching 5.6%, up from 3.6% during the same month last year.

According to the Namibia Statistics Agency (NSA), inflation also increased from 5.4% in September to 5.6% in October.

Statistician general and NSA chief executive Alex Shimuafeni, while making the announcement on Thursday, said higher transport costs were the main reason for the increase.

A report shows that food and non-alcoholic beverage prices rose by 4.8%, compared to 4.6% in October last year.

Shimuafeni says rising prices reduce what people can buy with their money, especially those who earn a fixed monthly income.

The report also shows that the Khomas region recorded the highest inflation rate at 6.2%.

This was followed by the ||Kharas, Erongo, Hardap and Omaheke regions, which recorded a combined rate of 6.1%. The remaining regions recorded a combined inflation rate of 4.6%.

The report shows that core inflation, which measures price increases without including certain food and energy costs, stood at 3.7% in October.

Source: https://www.namibian.com.na/inflation-climbs-to-5-6-in-october/