Food and housing drive inflation

Food and housing drive inflation

The annual inflation rate was 4.4% in August, down from 4.7% in August 2023. Monthly inflation increased to 0.3% from 0.2% in the previous month. Key contributors to inflation were food and non-alcoholic beverages and housing, water, electricity, gas, and other fuels, each contributing 1%. Namibia Statistics Agency spokesperson, Mirjam Shihepo.

September 10, 2024 34

Africa

Over 31 Million Nigerians Face Acute Food Shortages Amid Security Challenges and Subsidy Removal

The Nigerian government reported that over 31.8 million Nigerians are facing acute food shortages due to ongoing security issues and the removal of fuel subsidies, according to CNBCAfrica. This figure marks a significant rise from the 18.6 million reported by the U.N. World Food Programme in late 2023. The worsening crisis has led to increased malnutrition, especially among women and children.

August 29, 2024 5

Africa

Ethiopia’s bold economic reforms target stability and growth, but they come with risks

By Tsegay Tekleselassie, Wellesley College Ethiopia’s recent macroeconomic reforms, supported by the International Monetary Fund (IMF) and the World Bank, could have profound implications for the country and the region. The key reforms include the use of a floating exchange rate system and of interest rates as a policy tool. They were introduced just ahead of the approval of a financial package that could eventually amount to about […]

August 19, 2024 18

Business / Economics

US Inflation drops below 3% for first time in 3 years

Annual inflation in the US dipped below 3 percent in July for the first time in three years according to Labour Department Statistics. That's the lowest level it's been since March 2021, midway through the coronavirus pandemic. With more for us is Benji Hyer from Washington.

August 15, 2024 15

Namibia

Transport, housing, and food drive 4.6% inflation rate

The Namibia Statistics Agency has reported that transport, housing, water, electricity, gas, other fuels, and food and non-alcoholic beverages were the biggest contributors to the 4.6 percent annual inflation rate in July, each contributing 1.0 percentage points. NSA spokesperson Mirjam Shihepo breaks down the numbers. According to the NSA's July 2024 report, inflation rates varied by zone: Zone 2 (Khomas region) had the highest rate at 5.0%, […]

August 8, 2024 55

Business / Economics

FNB Namibia Anticipates Inflation Drop to 4.4%

FNB Namibia forecasts a decrease in headline inflation from 4.6% in June this year to 4.4% last month. This decline is mainly due to reduced transport inflation, linked to eased costs in personal transport and vehicle purchases. The drop is supported by recent global oil price stabilization and the Mines and Energy ministry's July fuel price cuts. Helena Mboti, an Economist at FNB Namibia.

August 2, 2024 72

Africa

Nigeria police fire tear gas on hardship protests

By Laurie Churchman Nigerian police fired tear gas on Thursday to break up several hundred protesters in the northern city of Kano and in the capital Abuja where demonstrators had joined in nationwide rallies against the high cost of living. Africa's most populous country is struggling with soaring inflation and a sharply devalued naira after President Bola Ahmed Tinubu ended a costly fuel subsidy and liberalised the […]

August 1, 2024 40

Africa

Nigeria under cost of living pressure: 8 essential reads on rising tensions

By Adejuwon Soyinka, The Conversation In recent times, Nigeria, Africa’s largest democracy, has been under intense pressure. Assailed by rising inflation, food insecurity and the rising cost of fuel and energy, Nigerians have had to endure diminished purchasing power, hunger and youth unrest. These factors have led to agitations by various segments of society, including demands for higher wages by government workers. At The […]

August 1, 2024 23

Namibia

Malnutrition affects 14,000 in Kavango East

The Kavango East Region has recorded 15 deaths due to malnutrition this year, with around 14,000 people affected. Last year, the region saw an increase in malnutrition cases with 2,716 affected and 30 deaths. HIV patients and pregnant women are among the affected groups. Governor of the Kavango East Region, Bonifatius Wakudumo. According to the Integrated Food Security Phase Classification, between September and December 2022, around 367,000 people, […]

July 30, 2024 73