Inflation accelerates to 7.1 from 6.1

The annual inflation rate for March 2018 has increased to 7.1% from 6.1% recorded in February.

This means that on average, prices of goods and services increased by 7.1 percent between March 2017 and March 2017.

Central Statistical Office (CSO) Acting Director Goodson Sinyenga has attributed this increase in inflation rate to price movements in both food and non food items.

Mr. Sinyenga has told a media briefing in Lusaka that the year on year annual food inflation rate for March 2018, indicating an increase of 1.2 percentage points.

He has attributed the increase in the annual food inflation mainly to price changes for food items such as Tomatoes, Onion, Dried Kapenta and Fish.

Mr. Sinyenga has also disclosed to journalists that the monthly inflation rate for March 2018 is recorded at 1.4% compared to 1.2% recorded in February, 2018.

And Mr. Sinyenga has disclosed that the economy has grown by 4.1 percent in 2017 from K129, 699.9 million in 2016 to K134, 987.5 million in 2017.

He says the growth is higher than the 3.4 percent recorded in 2016.

Mr. Sinyenga says of the total 4.1 percent growth, agriculture, forestry and fishing industry had the highest contribution accounting for 1.21 percentage points.

 

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