Zambia’s inflation rate shoots to 22.9%

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Zambia’s annual rate of inflation as measured by all Items Consumer Price Index (CPI) has increase by 1.1% from the 21.8% recorded in January this year to 22.9% recorded this month.
This means that on overage, prices increased by 22.9% between February 2015 and February 2016.

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Central Statistical Office (CSO) Director John Kalumbi has attributed this increase in inflation rate to both food and non food items.
Mr. Kalumbi has told a media briefing held in Lusaka today that the CSO projects that the Country’s annual inflation rate will continue to slightly increase until somewhere around October this year.

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He has also disclosed to journalists that the monthly inflation rate for February 2016 was recorded at 1.2% compared to 1.3% recorded in January 2016.
Mr. Kalumbi explains that this means that on overage, prices increased at a slower rate of 1.2% between January 2016 and February 2016 on a monthly-on month basis.

Meanwhile Zambia recorded a trade deficit in January 2016 valued at K172.6 million representing a 76.7 % decrease in trade deficit from the K739.5 million recorded in December 2015.
This means that the Country imported more in January 2016 than it exported in nominal terms.

QFM

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