Annual inflation rate drops

Zambia has recorded a reduction in its annual inflation rate from 7.5 percent in December 2016 to 7 percent in January 2017.

Central Statistical Office Director of Census and Statistics John Kalumbi has attributed the decline in the inflation rate to price changes of both food and non-food items.

Mr. Kalumbi however says the reduction in the annual rate of inflation does NOT mean that prices of goods and services have reduced.

He explains that the prices of goods and services have increased at a reduced rate over the period under review.

Mr. Kalumbi was speaking when he delivered the CSO Monthly bulletin in Lusaka – ZNBC.