April inflation rates marginally declines to 21.8%

The annual rate of inflation for April 2016 has decreased to 21.8 % from 22.2 % recorded in March.

CSO Director John Kalumbi has told a media briefing that the decrease in the inflation rate is attributed to decrease in the prices of non food items such as motor vehicles.

Mr. Kalumbi says the annual rate of inflation increased for food and non alcoholic beverages, alcoholic beverages and tobacco, health and communication, while it decreased for clothing and footwear, housing, water, electricity, transport and miscellaneous goods and services.

He says of the 21.8%, food and non alcoholic beverage products accounted for 13.7% while non food products accounted for 8.1%.

Mr. Kalumbi adds that North Western province had the highest provincial inflation rate at 25.5%, while Lusaka recorded the lowest at 19.9%.

Mr. Kalumbi further states that the country recorded a trade deficit in March 2016 valued at K800.9 million from the K679.8 million recorded in February 2016.