September inflation rate slows to 7.8%

The Annual rate of inflation for September 2014 has decreased to 7.8 percent from 8.0 percent recorded in July representing a decrease of 0.2 percent.

Speaking during the September2014 monthly bulletin release, Central Statistical Office (CSO) Director John Kalumbi says between September 2013 and September 2014, the annual rate of inflation increased for Alcoholic beverages and tobacco, clothing and foot wear, furnishings, household equipment and routine house maintenance.

Mr. Kalumbi says the annual rate of inflation decreased for food and non alcoholic beverages, housing, water, electricity, gas and other fuels, transport, communication, recreation and culture.

He says of the total 7.8 percent, food and non alcoholic beverage products accounted for 3.6 percent while non food product accounted for 4.2 percent.

Mr. Kalumbi adds that the annual rate of inflation increased for Central, Eastern, Luapula, Northern, Muchinga and Western Provinces, while it decreased for Copperbelt, Lusaka, North Western and Southern provinces.

Mr. Kalumbi says Lusaka and North Western provinces recorded the highest annual rate of inflation at 9.9 percent while Central and Copperbelt provinces had the lowest annual rate of inflation at 6.3 percent each in September 2014.

He further says the country also recorded a trade surplus valued at K98.4 million in August from K113.0 million recorded in July 2014.