Login
Finance

ZAMBIA’S INFLATION RATE SOAR UP

ZAMBIA’S annual inflation rate for the month of November has increased by 0.1% slightly higher than what was recorded in the month of October.

Last month, the inflation rate was recorded at 10.7% lower than 10.8% that has been recorded this month.

Zambia Statistics Agency Interim General Statistician Mulenga Musepa said the inflation rate was triggered by high commodity prices especially food stuffs.

Musepa said the inflation recorded meant that on average prices of goods  and services increased by 10.8% between November 2018 and November 2019.

He said the year-on-year annual food inflation rate for November, this year was recorded at 13.5% compared to 13.4 per cent recorded in October indicating an increase of 0.2 percentage points.

He said this was mainly attributed to price movements of food items such as breakfast mealie meal,maize grain rice local, .rice imported and frozen fish.

Meanwhile, Musepa said Zambia experienced a trade surplus of K146.9 million in October from a trade deficit of K732.3 million in September, indicating that the country exported more goods than it imported in nominal terms.

Musepa said although increases were observed in exports and imports, the increase in exports outweighed those in imports.