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NCPI Note April 2024

NCPI Note April 2024

Headline annual inflation stood at 4.8% in Apr ‘24, up from 4.5% in the previous month but significantly lower than the 6.1% recorded twelve months ago. This comes despite accelerations from Apr ’23 in the Housing & Utilities, Transport and Alcoholic Beverages & Tobacco baskets, as Food & Non-Alcoholic Beverages significantly decelerated from 13.5% in Apr ‘23 to 4.9% in Apr ‘24. Zonally, Khomas (Zone 2) is experiencing notably higher inflation than other areas, with baskets such as Recreation & Culture and Hotels, Cafés & Restaurants nearly double the inflation rate of other zones. This is coupled with slightly higher food inflation, and significantly higher rent inflation for the year (5.5%, compared to 1.5% in Zone 1 and even deflation of -1.3% in Zone 3).

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