September inflation rate declines to 18.9%

Zambia’s annual rate of inflation for the month of September 2016, as measured by the all items Consumer Price Index (CPI) has dropped by 0.7 percent to 18.9 percent.

This is from the 19.6 percent recorded in the month of August.

Central Statistical Office (CSO) Director John Kalumbi explains that this means that on average, prices increased by 18.9 percent between September 2015 and September this year.

Mr. Kalumbi says the decrease in the annual rate of inflation this month is attributed to decreases in prices for both food and non-food items.

Speaking this morning at the monthly media briefing in Lusaka, Mr. Kalumbi says the annual food inflation rate for September 2016 was recorded at 23.4 percent compared to 24.1 percent in August.

Mr. Kalumbi says this represents a decrease of 0.7 percentage points.

And Mr. Kalumbi has also disclosed that Zambia recorded a trade deficit in August 2016 valued at K708.7 Million from the K476.1 Million recorded in July.

He says this represents a 48.9 percent increase.