The monthly inflation rate has decreased for the first time in nearly five years during December, according to the latest Namibia Consumer Price Index (NCPI) statistic.

The inflation rate for last month was estimated at -0.1%, compared to 0.2% in November 2009.

According to the Central Bureau of Statistics (CBS) reduction in the monthly inflation rate can be attributed to monthly decreases recorder in the groups of Food and Non-Alcoholic Beverages, Furnishings, Household Equipment and Routine Maintenance.

The index for food and Non-alcoholic Beverages decreased from 196.3 in November last year, to 195.3 in December, a monthly decrease of 1.0 percentage points.

This is as a result of decrease recorded in the subgroups of mineral waters, soft drinks and juices, non-alcoholic beverages, coffee, tea and cocoa, oils and fats and food, breads and cereals.

In December, the annual inflation rate for Food and Non-alcoholic Beverages was 5.8%, while the rate for housing, water, electricity, gas and other fuels was recorded at 6.9% in December last year. The inflation rate for transport during the same period was recorded at 9.1%.