Zambia’s inflation rise to 7.1%

The annual rate of inflation for June 2015 has increased to 7.1% from 6.9% recorded in May, 2015.

Central Statistical Office (CSO) Director John Kalumbi says of the total 7.1% annual rate of inflation, food and non alcoholic beverages accounted for 3.7%, while non food products accounted for 3.4%.

Mr Kalumbi says the increase is attributed to increases in non food items particularly liquid fuels which are diesel, kerosene and petrol and house rentals.

Mr. Kalumbi says between June 2014 and June 2015, the annual rate of inflation increased for clothing and footwear, housing, water, electricity, transport, recreation and culture, while IT decreased for food and non alcoholic beverages, furnishing, communication, routine household maintenance and communication.

Mr. Kalumbi states that the annual rate of inflation in June increased for Central, Copperbelt,Lusaka, Northern, Muchinga and North Western provinces, while it decreased for Eastern, Luapula, Southern and Western provinces with Northwestern province recording the highest at 9.4%, while Western province recorded the lowest at 5.5%.

He adds that the country recorded a trade deficit valued at K1.193.3 million in May 2015 from a trade deficit of K717.7 million recorded in April 2015.

Mr. Kalumbi further reveals that there has been a decrease in the total value of metal exports from K3,013.2 million in April 2015 to K2,870.8 million in May.