Q FM Africa's Modern Radio
The annual rate of inflation for the month of October 2016 has significantly decreased by 6.4% from 18.9% in September to 12.5%.
Central Statistical Office Director John Katumbi says the reduction is attributed to the full impact of the base effect which has resulted in the decrease of both food and non food inflation.
Mr. Kalumbi has told a media briefing today that the annual food inflation rate for October 2016 stood at 15.6% from 23.4% recorded in September 2016.
He says the decrease is attributed to the decrease in the inflation for bread, bun, meat, cooking oil and tomato.
He states that the annual non food inflation rate stood at 9.0% from 14.0% recorded in September 2016, attributing the decrease to the reduction in prices of motor vehicles.
Mr. Kalumbi adds that of the total 12.5% annual inflation rate, food and non alcoholic beverage products accounted for 8.1%, while non food products accounted for 4.4%.
He adds that Lusaka had the highest provincial contribution of 3.6% with western province having the lowest contribution of 0.4%.
Mr Kalumbi further states that the country recorded a trade deficit valued at K998.8 million in September 2016 from K705.2 million recorded in August 2016.