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Namibia’s annual inflation took a turn in May ‘23, coming in at 6.3%, an increase from 6.1% recorded in Apr ’23 and 5.4% in May ’22. This is the third highest inflation print for the year. The food and non-alcoholic beverages category was the single largest contributor, accounting for 2.4% points of the inflation print (slightly down from the 2.5% points recorded last month). Monthly inflation decelerated to 0.2% from 0.4% reported in Apr ’23.