Inflation cools to 3.1% in April

Namibia's annual inflation rate fell to 3.1% in April 2026, down from 3.6% recorded in the same month a year earlier, according to the Namibia Statistics Agency.

On a monthly basis, inflation rose to 1.1%, up sharply from 0.2% in the preceding month. Core inflation, which strips out volatile items, stood at 2.8% — slightly below the headline rate.

Housing, water, electricity, gas and other fuels remained the single largest driver of annual inflation, contributing 1.1 percentage points to the overall figure. Transport added 0.7 percentage points, food and non-alcoholic beverages contributed 0.4 percentage points, and alcoholic beverages and tobacco accounted for 0.3 percentage points.

Zonal breakdown

Inflation varied considerably across the country's three statistical zones. Zone 2, which covers the Khomas Region, recorded the highest annual rate at 4.2%, up from 3.2% in April 2025. The increase was driven largely by Transport, which swung from -0.7% to 5.3%, as well as sharp rises in furnishings and household equipment (from 3.2% to 8.0%) and health (from 1.4% to 5.6%). Zone 2's monthly rate was 1.0%, compared to 0.2% in the previous month.

Zone 3, encompassing //Kharas, Erongo, Hardap and Omaheke regions, recorded an annual rate of 2.9%, a significant moderation from 4.1% a year earlier. Price declines in food and non-alcoholic beverages (from 7.6% to 1.5%), alcoholic beverages and tobacco (from 7.7% to 1.8%), miscellaneous goods and services (from 4.1% to -1.0%) and clothing and footwear (from 2.9% to -0.4%) contributed to the slowdown. The monthly rate in Zone 3 was 1.1%.

Zone 1, which covers Kavango East, Kavango West, Kunene, Ohangwena, Omusati, Oshana, Oshikoto, Otjozondjupa and Zambezi regions, recorded the lowest annual rate at 2.1%, down markedly from 3.7% in April 2025. Moderation was most visible in food and non-alcoholic beverages (from 5.8% to 1.6%), recreation and culture (from 7.3% to 3.1%) and communications (from -0.1% to -3.8%). Zone 1's monthly rate was 1.2%.

Regional price comparison

An analysis of average retail prices for selected products showed that consumers in Zone 3 paid the highest price for 750ml pure sunflower oil at N$34.30, followed by Zone 2 at N$33.60, while Zone 1 consumers paid the lowest at N$32.36.

For diesel, the pricing pattern was reversed. Zone 1 consumers paid the highest price per litre at N$24.31, marginally above Zone 3 at N$24.30, while Zone 2 consumers paid the least at N$24.12.