Inflation Namibia 2024
Average inflation: 4.3%
Current Inflation
Inflation is high at 4.3%, well above the ECB target.
Peak and Trough
The highest inflation was in January at 5.4%. The lowest inflation was in October at 3.0%.
- Highest month
- January: 5.4%
- Lowest month
- October: 3.0%
- Difference
- 2.4 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 5.2%. The lowest price increase was in Energy with an average of 3.9%.
- Highest increase
- Food: 5.2%
- Lowest increase
- Energy: 3.9%
Historical Context
Current inflation is around the 5-year average of 4.4%.
- 5-year average
- 4.4%
- 10-year average
- 4.6%
- All-time high (2009)
- 9.5%
- All-time low (2020)
- 2.2%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +1.6 percentage point.
- Change vs. previous year
- -1.6 percentage points
- Largest monthly swing
- October: -3.0 percentage points
ECB Target
Inflation is 2.3% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €104.30 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 5.4% | -1.6 |
| February | 5.0% | -2.2 |
| March | 4.5% | -2.7 |
| April | 4.8% | -1.3 |
| May | 4.9% | -1.4 |
| June | 4.6% | -0.7 |
| July | 4.6% | +0.1 |
| August | 4.4% | -0.3 |
| September | 3.4% | -2.0 |
| October | 3.0% | -3.0 |
| November | 3.0% | -2.7 |
| December | 3.4% | -1.9 |
| Average | 4.3% |
Data source
Data from WorldBank. Last updated: 06/01/2026.