The annual rate of inflation for the month of October 2016 has significantly decreased by 6.4% from 18.9% in September to 12.5%.
Central Statistical Office Director John Katumbi says the reduction is attributed to the full impact of the base effect which has resulted in the decrease of both food and non food inflation.
Mr. Kalumbi has told a media briefing today that the annual food inflation rate for October 2016 stood at 15.6% from 23.4% recorded in September 2016.
He says the decrease is attributed to the decrease in the inflation for bread, bun, meat, cooking oil and tomato.
He states that the annual non food inflation rate stood at 9.0% from 14.0% recorded in September 2016, attributing the decrease to the reduction in prices of motor vehicles.
Mr. Kalumbi adds that of the total 12.5% annual inflation rate, food and non alcoholic beverage products accounted for 8.1%, while non food products accounted for 4.4%.
He adds that Lusaka had the highest provincial contribution of 3.6% with western province having the lowest contribution of 0.4%.
Mr Kalumbi further states that the country recorded a trade deficit valued at K998.8 million in September 2016 from K705.2 million recorded in August 2016.
This is a VERY BIG LIE. We are not in kindergarten to be fed such lies.
Tighten your belts and get ready to be dununard backwards!
I don’t get it. I never did a lot of economics, but I remember in grade 9 we we learnt that HIGH INFLATION means more money chasing few goods. How can inflation drop when price of food and fuel is going up?
Can somebody who is an economist advise me or these figures are fabricated?
Thank you
Nice try to push it into single digit by year end, but the tail winds are gathering momentum and they look very very very strong , with Fuel price hike and transport, and Electricity licking its lips, this figure will shoot right up next month and end comfortably in double digit for the year 2016. PF you have work to do. Next up is Electricity and IMF, tighten your belts folks. It is going to be a bumpy ride for the next 5 years or did I hear 7 years from some neglected and ignored Job Seeker?
The price of Fuel and electricity have gone up while inflation is reported to have gone down,What a big joke of the year ,Lungu trying to steal our minds as he did with the elections.This does not make not even a single sense.
But the impact of fuel price increase cannot be recorded just upon the announcement imwe ba nsama – what sort analysis is that?
Then the headline should have been “Zambia’s October inflation rate decelerates to 12.5%. You cant accelerate backwards
HaHaHa…..Don”t forget that these are DUNUNA reverse guys so they don”t see any difference between the two terms – Accelerate and decelerate
When it goes up dramatically you don’t question. By the time fuel priceincreased data had already been collected
Dununa reverse. The power of propaganda
How can they propaganda when elections are only in 2021? Muziganiza baba
Zambia Zambia Zambia my beloved country. Which institution is going to tell us the truth kasi. Its lies everywhere. Next month the inflation will be 20 chakuti peseti. Danny anaimba ati kaya.
He states that the annual non food inflation rate stood at 9.0% from 14.0% recorded in September 2016, attributing the decrease to the reduction in prices of motor vehicles.
Easy mobility makes getting to the market easier and quicker. UPND, you are the forward dunderheads of PF’s reverse dunderheads. You are both in two basket of deplorables.
Please, do you manufacture motor vehicles? How many new vehicles are bought in Zambia to have significantly impacted on inflation miracle recovery? Meanwhile the deficit has widened by close to 40% !!!
@ Nzelu
just one word: CRAP
Bwana Kalumbi, there is something wrong here. The minister of Finance must close this department it appears it has lost its direction and I wonder why! Could it be because it is full of misfits from the opposition?