Inflation rate for May decreases to 6.5%

John Kalumbi

The inflation rate as measured by the all Items Consumer Price Index (CPI) for the month of May, 2017 has decreased to 6.5 percent compared to that recorded in April 2017 at 6.7 percent.

This means that on average, prices increased by 6.5 percent between May 2016 and May 2017.

Central Statistics Office Director John Kalumbi explained during the monthly bulletin presentation that the reduction indicates a decrease of 0.3 percentage points and can be attributed to the decrease of 0.1 percent in food items rate for the month of May compared to 0.2 percent recorded in April 2017.

Mr Kalumbi adds that the month on month non food inflation rate for May 2017 was recorded at 0.1 percent compared to 0.6 percent recorded in April 2017, indicating a decrease of 0.5 percentage points.

Meanwhile the annual inflation rate for the month of May 2017 has decreased to 6.5 percent compared to 6.7 percent recorded in April 2017.

Mr Kalumbi has explained that the decrease means on average, prices increased by 6.5 percent between May 2016 and May 2017.

He has however stated that the annual inflation rates over the period of May 2016 to May 2017 have shown a decreasing pattern from 21.3 percent in May 2016 to 6.5 percent in may 2017.