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Namibia's annual inflation for Jul '23 slowed down by 0.8 percentage points to 4.5%, in contrast to the 5.3% in Jun ’23 and 6.8% in Jul '22. This marks the lowest inflation rate since Feb and Mar '22, which also stood at 4.5%. However, monthly inflation saw a slight uptick in Jul '23, rising from 0.1% in Jun to 0.3%. The main driver of inflation remains food and non-alcoholic beverages, but this has slowed for the fourth consecutive month.