INFLATION DROPS

By Brian Mwale:

Zambia’s Annual Inflation rate for the month of May has reduced to 10.2% from 11.5 recorded last month.

Zambia Statistics Agency -ZAMSTATS- Interim Statistician General MULENGA MUSEPA says the reduction means that on average, prices of goods and services increased by 10.2% between May 2021 and May 2022.

Mr. MUSEPA has attributed the drop in inflation to price movements in both food and non-food items.

He cites food items such as Meat, Fruits, and Vegetables among others.

Mr. MUSEPA adds that Copperbelt province contributed the highest at 2.9% points to the overall annual inflation rate of 10.2%.

Lusaka province was second, contributing 2.4%  points while North- Western and Western provinces had the lowest contributions of 0.4%  and 0.5% points respectively.

And Mr. MUSEPA says the cumulative total trade for the period January to April 2022 was 1 K15.2bn while that of 2021 for the same period was K114.4bn representing a 07% increase.

He was speaking during a media briefing in Lusaka today.

The post INFLATION DROPS appeared first on .