- Fuel costs jump 34.1%, driving inflation higher.
- Rising interest rates deepen pressure on households.
WINDHOEK, NAMIBIA – Namibia’s inflation accelerated to 5.6% in October as soaring fuel costs squeezed households, strained public finances and complicated efforts to defend the country’s currency peg.
Consumer prices rose 0.7% from September, compared with 0.4% a month earlier, according to figures released Thursday by the Namibia Statistics Agency (NSA). Annual inflation climbed from 5.4% in September and 3.6% a year earlier, deepening the challenge for an economy already grappling with weak growth and rising borrowing costs.
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