Q FM Africa's Modern Radio
The annual rate of inflation for May 2015 has decreased by 0.3% from 7.2% recorded in April 2015 to 6.9%.
Speaking during the release of the monthly bulletin this morning, CSO Director John Kalumbi says the decrease is mainly attributed to decreases in non food items such as the purchase of vehicles, air fares among others.
Mr. Kalumbi explains that of the 6.9% annual inflation rate, food and non alcoholic beverage products accounted for 3.7%, while non food products accounted for 3.2%.
He notes that the annual rate of inflation decreased for clothing and foot wear, alcoholic beverages and tobacco, housing, water and miscellaneous goods and services, while it increased for food, health, education and non alcoholic beverages.
Mr. Kalumbi points out that the annual food inflation rate for May 2015 was recorded at 7.2% compared to 7.1% recorded in April 2015 an increase of 0.1%.
Mr. Kalumbi says the increase is mainly attributed to increases in prices of vegetables.
He adds that the annual rate of inflation in May increased for central , north western and southern provinces, while it decreased for Copperbelt, Eastern, Luapula, Lusaka, Muchinga, Northern and North Western provinces with North Western province recording the highest annual rate of inflation at 9.3%, while Copperbelt and western provinces recorded the lowest at 5.7% each.
Mr. Kalumbi further states that the country also recorded a trade deficit in April valued at K310.3 Million compared to K717.2 million recorded in March 2015.