Inflation increases to 7.9 percent

The annual rate of inflation for the month of June has increased to 7.9 percent from 7.8 percent recorded in May, representing a 0.1 percent increase.

Speaking during a media briefing for the June 2014 release of the Monthly Bulletin, Central Statistical Office acting Director for Census and Statistics Iven Sikanyiti says of the total 7.9 percent, food and non alcoholic beverage products accounted for 4.0 percent while non food products accounted for a total of 3.9 percent.

Mr. Sikanyiti says the annual rate of inflation increased for clothing and footwear, housing, water, household equipment, electricity, while the annual rate of inflation decreased for food and non alcoholic beverages, alcoholic beverages, tobacco, transport and education.

He adds that the annual rate of inflation increased for eastern, Luapula, Lusaka, North Western, Southern and Western provinces while it decreased for Central, Copperbelt, Northern and Muchinga provinces.

Mr. Sikanyiti says Lusaka Province had the highest contribution to the annual rate of inflation at 2.2 percent while North Western had the lowest contribution at 0.3 percent.

And Mr Sikanyiti says the country recorded a trade surplus valued at K43.0 million in May 2014 compared to a trade surplus of K29.2 million recorded in April.