Economic Analysis
Namibia’s Commodity Trade Faces Mixed Price Pressures as Goods Inflation Hits 5.8%
Higher prices for food, housing and household-related expenses increased the cost of everyday consumption in September, as goods inflation remained above the level recorded a year earlier.
By: Elizabeth Naftal
Namibia’s goods prices increased by 5.8% in September 2026, even as price growth for some of the country’s key food commodities slowed from a year earlier, creating a mixed picture for consumers and commodity traders.
According to the Namibia Statistics Agency’s (NSA) September 2026 Consumer Price Index, goods inflation accelerated from 3.3% recorded in September 2025, while food and non-alcoholic beverages recorded annual inflation of 4.0%.
Within the food basket, meat inflation slowed to 3.3% from 8.1% a year earlier. Beef prices increased by 2.6%, compared with 14.1% in September 2025, while mutton and lamb inflation eased to 4.8% from 12.6%. Fish inflation also slowed to 3.2% from 9.2%.
Despite the moderation in major food commodities, housing-related goods continued to record higher price pressures. The NSA recorded inflation of 4.2% for housing, water, electricity, gas and other fuels, up from 3.6% a year earlier. Electricity, gas and other fuels increased by 3.8%, compared with 3.0% in September 2025.
According to the NSA, the price movements come as Namibia continues to rely on commodity trade, with exports concentrated in natural resources and food products.
At the same time, the NSA’s August 2026 International Merchandise Trade Statistics showed that Namibia exported goods worth N$12.7 billion during the month, while imports reached N$16.6 billion, resulting in a N$3.9 billion trade deficit.
Food commodities, however, recorded a different outcome. Namibia registered a N$773 million food trade surplus in August, supported by N$1.3 billion in fish exports and N$434 million from meat and edible meat offal. Fish accounted for 62.4% of food exports, while meat contributed 20.3%.
Furthermore, the statistics reveal that on the import side, cereals accounted for 15.8% of food imports, followed by sugar at 11.9% and animal fodder at 9%, showing the continued role of international markets in supplying some commodities to Namibia.
The mixed price and trade trends highlight the pressure facing Namibia’s commodity market. While slower food price increases could ease some pressure on households, the country’s continued dependence on imported goods means international commodity movements can still feed into local prices.
At the same time, strong exports of fish, meat and other commodities remain important for generating foreign earnings and supporting the wider economy.
