The Bank of Namibia in its money and banking statistics report for October revealed that the country’s annual inflation rate stood at 2.3 percent, a meagre 0.1 percentage point change compared to the preceding month. Lending to the private sector meanwhile increased by 1.4 percent during the month but business credit declined by 2.2 percent, while household credit grew by 4.2 percent and  overdraft credit growth slowed. The 12-month growth in overdraft credit stood at 2.8 percent, decreasing by 1.1 percentage points month on-month while annual growth in other loans and advances slowed to 5.9 percent, decreasing by 1.2 percentage points month-on-month.