JOHANNESBURG (Reuters) - Namibia's annual consumer inflation slowed to its lowest level in more than three years in March as food and transport costs fell, the Central Bureau of Statistics said on Monday.
The statistics agency said in a statement CPI slowed to 5.6 percent year-on-year in March from 6.3 percent in February. Month-on-month inflation also braked to 0.1 percent, from 0.4 percent the previous month.
"This decrease resulted from monthly decreases recorded in groups of food and non-alcoholic beverages, clothing and footwear, transport as well as miscellaneous goods and services," the CBS said.
Inflation in the southern African country -- the world's fourth largest uranium producer and a big diamond producer -- peaked at 12 percent in August 2008.
The central bank left its repo rate steady at 7 percent in February, after cutting rates by 350 basis points between December 2008 and June last year.
Namibia expects growth of at least 4 percent for 2010 after last year's contraction and sees low risks to inflation in the short term.
Reuters Africa
