September Inflation increases to 7.7%

The annual rate of inflation for September, 2015 has increased to 7.7% from 7.3% recorded in August, 2015.

Speaking during the September 2015 monthly bulletin release, Central Statistical Office Director, John Kalumbi says the of the total 7.7% annual rate of inflation, food and non alcoholic beverage products accounted for 4.2%, while non food products accounted for 3.5%.

He explains that the annual food inflation rate for September 2015 was recorded at 8.1% compared to the 7.8% recorded in August 2015.

Mr Kalumbi says the increase is attributed to the increase in the prices of bread and buns, chicken, mealie meal and cooking oil.

He says the annual non food inflation rate increased for September 2015 to 7.3% from 6.7% recorded in August 2015, an increase attributed to the hike in the prices in the transport sector influenced by increases in prices of motor vehicles and transport fares.

Mr Kalumbi adds that the annual rate of inflation increased for food and non alcoholic beverages and tobacco, clothing and footwear while it decreased for housing, water, electricity, gas and other fuels and remained the same for education.

He states that the annual rate of inflation in September 2015 increased for Central, Copperbelt, Eastern, Lusaka, Northern, Muchinga and Southern provinces, while it decreased for Luapula and Western provinces with Northwestern recording the highest contribution of 9.0% and Western province the lowest at 5.2%.

Mr. Kalumbi further states that the country also recorded a trade deficit valued at K724.7% from a trade deficit of K959.2 million in July 2015.