The annual rate of inflation for the month of November has increased by 0.1 percent from 6.9 last month to 7.0.
This means that the average prices increased by 7.0 percent between November 2012 and November 2013.
Central Statistical Office (CSO) Director for Census and Statistics John Kalumbi who announced the development at the monthly media briefing this morning attributed the increase to food and non-alcoholic beverages.
Alcohol, Tobacco, Housing, Water, Electricity, Gas and other fuels, furnishing, household equipment, routine household maintenance, health, transport, communication, recreation and culture, education and various goods and services have also been highlighted as contributing factors to the increase in the inflation rate.
Meanwhile, Mr. Kalumbi has disclosed that trade surplus has been on a continuous decline this year.
Inflation is the exchange rate of zambian rate against the dollar and Pound
This is good news or bad news?
Thanks
More money buying few goods!!!
Noted sir,
Peace and Prosperity to Mother Zambia
UK inflation rate is always below 1…i dont have to be an economist to know that the smaller the inflation rate, the better. BA PF SHIBUKENI!!!
The declining trade surplus will eventually spell negative impact on the entire economy. It is this side of economic management which is important for a country to remain competitive in the global economy. Sadly most cadres do not understand this language hence it does not matter to them. If this trend continues soon Zambia will be unable to service its external debts and trouble will be in full swing. Hopefully plans are being put in place to ensure meaningful trade surplus, for a healthy payment balance sheet.
When i said Zambia will default on its debt… i was insulted and bloggers were laughing watch this space i will have the last laugh while enjoying a cold Victoria Bitter
We had very good infration rate undre MMD yet the poverty levels were extremely high
In a free market economy, you have to work hard to prosper. The govt is there to provide a conducive and enabling environment and not free hand out to lazy people. The pf should be aware that its socialist agenda does not work as it failed during UNIP rule.