Consumers in the |Khomas Region paid more for average retail prices of selected products for December last year compared to other regions.

This is contained in the Consumer Price Index released by the Namibia Statistics Agency (NSA).

 The Zonal inflation rates for December last year revealed that the |Khomas Region, placed in zone two, recorded the highest rate of 4.3%.

It is followed by zone three comprising ||Kharas, Erongo, Hardap and Omaheke regions, which recorded an annual inflation rate of 2.9%.

Consumers in zone one, namely Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa and Zambezi regions paid the least for retail prices recorded at 2.8%.

Analysis of the average retail prices of selected products for December last year revealed that consumers in Zone 2 paid the highest price for 750 millilitres of cooking oil at N$31.30.

This was followed by Zone 3 at N$30.89, while the lowest price of N$30.20 was paid by consumers in Zone 1.

Meanwhile, consumers in Zone 1 paid the highest price for beef stew at N$100.30 per kilogram, followed by Zone 3 at N$99.36, with Zone 2 consumers paying the lowest price of N$86.99.

The report, however, indicates a slight relief as annual inflation recorded last month slowed down to 3.4% compared to 5.3% registered in December 2023.

The primary drivers of the annual inflation rate of 3.4% in December 2024 were food and non-alcoholic beverages, contributing 1.2 percentage points.

This was followed by housing, water, electricity, gas, and other fuels contributing 1.1 percentage points, while the category alcoholic beverages and tobacco contributed 0.6 percentage points.

Monthly, the inflation rate also recorded a slightly low rate of 0.2%, lower than the 0.3% registered during the preceding month.

The highest change in the annual inflation rate was reflected in the categories of hotels, cafés, and restaurants.