November inflation increases to 8.1 percent

The annual rate of inflation for the month of November has increased to 8.1 percent from 7.9 recorded in October 2014.

Speaking during the release of the Central Statistical Office (CSO) November 2014 monthly bulletin this morning, CSO Director John Kalumbi says the annual rate of inflation increased for food and non alcoholic beverages, clothing and footwear, transport, recreation and culture and health while it decreased for Alcoholic beverages and tobacco, housing, water, electricity, gas and other fuels, furnishing household equipment and education.

Mr. Kalumbi says of the total 8.1 percentage, food and non alcoholic beverages accounted for 3.8 percent, while non food products accounted for 4.3 percent.

He adds that the annual rate of inflation in November increased for Copperbelt, Lusaka, North Western and Southern provinces, while it decreased for Central, Eastern, Northern, Muchinga and Western provinces.

Mr. Kalumbi says North Western province recorded the highest annual rate of inflation at 9.8 percent while Central province recorded the lowest annual rate of inflation at 5.9 percent.

He states that the country also recorded a trade surplus valued at K67.0 million in October indicating a reduction from K99.1million recorded in September 2014.

Mr. Kalumbi has also disclosed that the 2012/2013 formal sector employment and earnings report reveals that formal sector employment was at 995,150 as at the fourth quarter of 2013.

He says the private sector was the largest employer accounting for 604,425 in 2012 and 687,809 in 2013.