Inflation drops by 0.2 percentage points

The annual rate of inflation for the month of September 2018 has dropped to 7.9 percent from 8.1 percent.

Speaking at media briefing, Central Statistical Office Acting Director for Statistics Goodson Sinyenga says this means that on average, prices of goods and services increased by 7.9 percent between September 2017 and September 2018.

Mr. Sinyenga says has attributed the decrease in the annual rate of inflation to the base effect arising from the adjustment in electricity tariffs in september 2017.

He adds that the month on month inflation rate for september 2018 dropped by 0.2 percent indicating a decrease of 0.1 percentage point compared to 0.3 percent recorded in august 2018.

And Mr. Sinyenga says Zambia’s trade deficit increased by 109.7 percent fromk829 million recorded in July 2018 to k1,738.2 million in august 2018.

He explains that this means the country imported more than it exported in nominal terms.