The Annual rate of inflation for the month of July, 2014 has increased to 8.0 percent from 7.9 recorded in June 2014.
Speaking during the release of the July, 2014 monthly bulletin, Central Statistical Office Director, John Kalumbi says the increase in the annual rate of inflation is mainly attributed to increases in the non food items.
Mr. Kalumbi says between July 2013 and July 2014 the annual rate of inflation increased for Alcohol beverages and tobacco, housing, water, electricity, gas and other fuels, health and other housing equipment while it decreased for food and non alcoholic beverages, transport, clothing, footwear, communication and miscellaneous goods and services.
Mr. Kalumbi says of the total 8.0 percent annual inflation rate recorded in July 2014, food and non alcoholic beverage products accounted for 3.5 percent, while non food products accounted for a total of 4.5 percent.
He states that the annual rate of inflation increased for Central, Lusaka and North Western Provinces while it decreased for Copperbelt, Eastern, Luapula, Northern, Muchinga and Western Provinces.
Mr. Kalumbi says Lusaka Province had the highest provincial contribution of 2.5 percent while North Western Province had the lowest contribution of 0.3 percent.
He further disclosed that the country recorded a trade surplus valued at K47.7 million in June 2014 from a trade surplus of K41.1 million recorded in May 2014.
Dec it will 20% and lending rates will 60%. its a failed economy, brave yourselves for the worst
Well done PF, those of us with wings r out of zed but the poor doomed majority will suffer till hell finds them.
We have been telling people all along that the PF does not know what it takes to run, manage and develop an Economy. They think that all they need is engage a few chinese guys and build four lanes in Chilimbulu and that is it. My esteemed colleagues in the PF, it takes more than just building roads and empty classrooms and clinics to build a nation. Yes we need roads, schools, Universities, clinics and hospitals but please plan these as they will be very costly without planning. Look at abandoned road projects. Serious accidents have happened on these un finnished or abandoned roads.
Its normal in emerging markets like ours,Britain is also down. That is why there is a debate on whether they should impose sanctions on Russia because it will affect markets globally.
@ Robin
UK interest interbank rate 0.25%, BOZ 19%;
UK banks lending rate 3.75-4.25%. Zambian banks lending rates 28-32%.
Uk unemployment rate 6.8%, Zambia (estimated) 40-60%;
UK job creation in last two years just under 3 million, PF job creation non existent.
Shall I make comparison of pension, medical care, inflation, social benefits………?
Why has southern province been deleted from there report!!!!!!!is it a case of institutional tribalis at CSO.
Food inflation has actually declined and what has gone up is non food inflation. In the month of June 2014 annual food inflation was 7.8% but this has drastically reduced to only 6.9% representing 12% reduction. What it means is that for the month of July 2014 food prices were lower(cheaper) by 12% than those for 2013 in the same month.
What it means is that for the month of July 2014 food prices were lower(cheaper) by 12% than those for 2013 in the same month……
These figures are from famed Chellah’s parallel universe. Let us not play games. Inflation is now in double digit. From the beans, kapenta at the market, cooking oil an groceries in shoprite, spar, pick n pay, freedom way shops to saulula everything has increased drastically. And you say 8% what?!
It is such deception that really makes a mockery of these stats. Power balunda, water yakwela, minibus balunda and even prostitutes have increased and then ati inflation nfyo nfyo….