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This report examines the performance of the monthly inflation rate in Namibia as measured by the Namibia Consumer Price Index (NCPI). The inflation rate measures the change in the Consumer Price Index (CPI) for the month under review compared to the previous month (month-on-month changes) as well as to the corresponding month in the previous year (year-on-year changes). The inflation rate is vital in formulating economic policy, especially conducting monetary policy to maintain price stability and control consumers spending. The Consumer Price Index is published about 15 days after the end
of the reference month to which it relates.

The headline annual inflation rate for February 2025, stood at 3.6 percent compared to 5.0 percent registered in February 2024. On a monthly basis, the inflation rate was 0.4 percent, a slow increase compared to 1.1 percent registered during the preceding month.
The Zonal year-on-year inflation rates for the month of February 2025 revealed that Zone 2 (Khomas region) and Zone 3 ( //Kharas, Erongo, Hardap, Omaheke regions) recorded the highest rate of 3.7 percent; while by Zone 1 (Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa, and Zambezi regions) recorded an annual inflation rate of 3.5 percent.

Analysis of the average retail prices for selected products in February 2025 revealed that consumers in Zone 2 paid the highest price for 750 ml Pure Sunflower Oil at N$34.32, followed by Zone 3 at N$31.05, while the lowest price of N$29.78 was paid by consumers in Zone 1. Meanwhile, consumers in Zone 3 paid the highest price for Tinned pilchards in tomatoes, 400g at N$37.17; followed by Zone 2 at N$35.60, and Zone 1 consumers paying the lowest price of N$30.03.

  The core inflation rate was 3.5 percent, slightly lower than the headline inflation rate of 3.6 percent. The term “core inflation” describes a measure of inflation that excludes certain volatile elements from the overall inflation calculation. These volatile elements typically include food and energy prices, which tend to experience significant price fluctuations due to factors such as weather conditions, geopolitical events, or changes in supply and demand.