Q FM Africa's Modern Radio
Zambia’s annual rate of inflation has remained static at 7.9 percent in the month of January 2019.
Central Statistical Office Acting Director of Census and Statistics, Daniel Daka says the price of goods and services in January increased by 7.9 percent on overage.
Mr. Daka however, states that the year on year food inflation rate for this month was recorded at 8.2 percent representing a 0.1 percentage point increase from the 8.2 percent recorded in December 2018.
Speaking during the CSO monthly release media briefing in Lusaka, Mr Daka says the increase is mainly due to price changes of bottled carbonated soft drinks.
He states that the year on year non-food inflation rate for January 2019 was recorded at 7.7 percent compared to the 7.6 recorded in December 2018.
Mr Daka says the increase of 0.1 percent is mainly attributed to price changes of items in the Transport and Education Consumer Price index (CPI) main groups.
And Mr. Daka says Zambia’s trade deficit decreased by 83.5 percent from K1, 729.9 million recorded in November 2018 to K285.6 million in December 2018.
He states that this trade deficit entails that the Country imported more at a reduced rate than it exported in nominal terms.