March inflation declines to 7.2%

Zambia’s annual rate of inflation as measured by all the all Items Consumer Price Index (CPI) has declined by 0.2 percent for the month of March.

The reduction is from 7.4 percent recorded in February to 7.2 percent in March.

The Central Statistical Office (CSO) says a comparison of retail prices between February 2015 and March 2015 indicates that the national average price of a 25Kg bag of Breakfast Mealie Meal decreased by 0.6 percent from K71.00 to K70.61.

CSO Director John Kalumbi told a media briefing during the release of the March 2015 Monthly Bulletin that the national average price of a 25 Kg bag of Roller meal also decreased by 1.3 percent from K54.62 to K53.93 between February and March.

Mr. Kalumbi has further disclosed that Zambia recorded a trade deficit valued at K107.3 Million in February 2015 from a trade deficit of K68.4 Million recorded in January.

He explained that this means that the country imported more in February 2015 than it exported in nominal terms.