July inflation static at 7.1%

The annual rate of inflation for the month of July 2015 has remained static at 7.1% as recorded in June 2015.

Speaking during the Central Statistical Office (CSO) monthly bulletin release this morning, CSO Director John Kalumbi says the annual food inflation rate for July was recorded at 7.8% compared to 7.1 % recorded in June 2015.

Mr Kalumbi says the increase was mainly influenced by price movements in bread and cereals.

Mr. Kalumbi says the annual non food inflation rate for July 2015 decreased to 6.2% from 7.0%, attributing the decrease to the slowing down of inflation in housing, water, electricity, gas and other fuels.

He points out that the change in electricity tariffs last year during the same period has given rise to the decrease in the annual non food inflation rate.

Mr. Kalumbi explains that of the total 7.1% annual inflation rate recorded, food and non alcoholic beverage products accounted for 4.0 % while non food products accounted for 3.1%.

He adds that Lusaka contributed the highest provincial contribution of 2.3 % while western contributed the lowest of 0.2%.
Mr. Kalumbi further states that the country also recorded a trade deficit valued at K1, 293.2 million percent in June 2015 from a trade deficit of K1,210.0 million recorded in May 2015.