October inflation rate soars

The annual rate of inflation for the month of October has increased to 7.9 percent from 7.8 percent recorded in September 2014.

According to the Central Statistical Office monthly bulletin released today, the annual rate of inflation increased for food and alcoholic beverages, housing, water, electricity, gas and other fuels, health and education.

The annual rate of inflation decreased for alcoholic beverages and tobacco, clothing and footwear, transport, recreation and culture and restaurant and hotel.

Of the total 7.9 percent annual rate of inflation recorded, food and non alcoholic beverages accounted for 3.7 percent, while non food products accounted for 4.2 percent.

The annual rate of inflation increased for Copperbelt, Luapula, Lusaka and Western provinces and decreased for Central, Northern, Muchinga and North Western provinces, while the inflation for Eastern and Southern provinces remained the same.

Eastern Province recorded the highest annual rate of inflation at 9.5 percent while Central province had the lowest at 6.1 percent.

Zambia also recorded a trade surplus valued at K100.2 million in September 2014 indicating a reduction from K102.1 million recorded in August 2014.