Bread and cereals prices increased by 20.8 percent during March 2023 compared to 4.2 percent recorded same period of the previous year, the Namibia Statistics Agency (NSA) said last week.
The growth in the annual inflation rate for this sub-category resulted mainly from increases in the price levels of Maize, meal/grain which increased significantly reaching a high of 33.9 percent during the month under review compared to 3.0 percent registered in March 2022; Bread, cake flour also increased (from 11.9% to 25.9%); Macaroni, spaghetti, and noodles rose (from 6.3% to 20.3%) and Bread (from 5.8% to 18.5%).
The agency also noted that the price levels of fruit went up by 29.1 percent during March 2023 compared to 10.0 percent recorded during the same period a year earlier. The increase was reflected mainly in the price levels of Avocado (from 32.9% to 92.3%); Citrus fruits (from 5.1% to 24.2%); Watermelons (from -2.3% to 20.5%); and Grapes (from -17.9% to 13.1%).
On the other hand mineral waters, soft drinks and juices increased by 11.5 percent during the period under review compared to an increase of 4.6 percent registered during the same period of 2022. The increase was observed in all levels of this category.
Price for Sugar, jam, honey, syrups, chocolate and confectionery increased by 14.0 percent during the period under review, when compared to an increase of 2.3 percent registered during the same period last year. The increases in the annual inflation rate for this category was mainly observed in the price levels of chocolate (from -0.3% to 24.1%); sugar (from 1.9% to 15.0%) and Ice cream (from 3.5% to 14.5%).
Lastly, the price levels of meat increased by 10.4 percent during the period under review, compared to 4.4 percent registered during the same period last year. The rise in the annual inflation rate for Meat was mainly observed in the price levels of Ham (from 6.4% to 18.5%); Chicken and birds (from 4.6% to 17.3%); Bacon (from 3.5% to16.3%); Pork (from 3.5% to 16.2%) and Sausages (from 2.5% to 14.6%).
In March 2023, the annual inflation rate increased by 7.2 percent compared to 4.5 percent recorded in March 2022. On a monthly basis, the inflation rate increased by 0.6 percent compared to 0.4 percent recorded a month earlier. The main contributors to the annual inflation rate were Food and non-alcoholic beverages (2.7 percentage points); Transport (1.4 percentages points), Alcoholic beverages & tobacco (0.9 percentage points), Housing, water, electricity, gas and other fuels (0.8 percentage points); Miscellaneous goods and services; and Furnishing household equipment and routine maintenance of the house (each contributed 0.4 percentage points).
The Zonal inflation rates for the month of March 2023 revealed that, Zone 1 (Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa, and Zambezi) recorded the highest annual inflation rate of 7.7 percent, followed by Zone 3 (||Kharas, Erongo, Hardap, Omaheke) recording an annual inflation rate of 7.2 percent while Zone 2 (Khomas), recorded the lowest annual inflation rate of 6.6 percent. On a monthly basis, the Zone 1 and 3 registered an inflation rate of 0.6 percent each and Zone 2 recorded 0.4 percent.
Analysis of the average retail prices of selected products for the month of March 2023 shows that consumers in Zone 2 paid the highest price for Pure sunflower oil (750 ml) at N$37.41 followed by Zone 3 at N$36.81, while consumers in Zone 1 paid the lowest price of N$36.05. For Stewing beef, consumers in Zone 1 paid the lowest price at N$89.99/Kg, while the highest price was recorded in Zone 3 at N$94.57/Kg. For Eggs (pack of 6), consumers in Zone 1 paid the lowest price at N$21.15, while the highest was paid by Zone 2 consumers at N$23.04.