September Annual Rate Of Inflation Goes Up

By Lomphande Phiri Muzumi

 

The Annual Rate of Inflation for the month of September 2019 has increased to 10.5 percent from 9.3percent recorded in August 2019.

According to Central Statistical Office –CSO- Interim Statistician General, Mulenga Musepa said the increase in inflation rate was mainly attributed to food items price movements.

Addressing the media in Lusaka this morning, Mr. Musepa explained that the increase means that on average, prices of goods and services increased by 10.5 percent between September 2018 and September 2019.

Mr. Musepa also revealed that the year on year annual, food inflation rate for September 2019 was recorded at 12.4 percent from 10.3 in august 2019 and that the increase is attributed to the price increase in maize products such as breakfast mealie meal, samp and maize grain among others.

Meanwhile, Mr. Musepa also disclosed that Zambia’s trade deficit decreased by 42.5 percent from K786.2 in July 2019 to K451.9 million in August 2019.

Mr. Musepa said this means that the country imported more than it exported in nominal terms.

PHOENIX NEWS

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