NAMIBIA'S inflation slowed to 9,1 percent year-on-year in June, compared to 9,6 percent in May, the Central Bureau of Statistics said yesterday.
It said in a statement month-on-month inflation was steady in June at 0,4 percent.
Easing inflation has opened the way for interest rate cuts in the southern African country, where growth is slowing sharply due to falling demand for key mining exports, particularly diamonds.
The Bank of Namibia has cut its repo lending rate by 350 basis points to 7,0 percent since December, roughly following the trend in bigger neighbour South Africa. - Reuters