The annual inflation rate for March 2017 inflation rate has marginally decreased by 0.1 percentage points to 6.7 percent from the February rate of 6.8 percent.

Central Statistical Office Director, John Kalumbi has attributed the reduction to the price changes of food items.

Kalumbi has explained that the decline in inflation means on average prices increased by 6.7 percent between March 2016 and March 2017.

Mr kalumbi added that the year on year food inflation rate for March 2017 was recorded at 6.7 percent compared to 7.4 percent recorded in February 2017 representing a decrease of 0.7 percentage points.

Mr. Kalumbi said that the decrease in the annual food inflation rate is attributed to price changes for fish items and vegetables such as tomatoes and cabbage.

Speaking during a media briefing yesterday morning, Mr. Kalumbi said that Lusaka Province recorded the highest provincial contribution of 1.7 percent points on the overall annual inflation rate of 6.7 percent in March, while Western Province recorded the lowest contribution of 0.2 percent.

Mr Kalumbi said that the implcation of this is that the price movements in Lusaka province had the greatest influence on the overall annual rate of inflation.

Mr. Kalumbi also said that Zambia recorded a trade deficit in February 2017 valued at K1,140.8 million from K227.3 million recorded in January 2017, representing a 401.9 percent increase, meaning that the country imported more in February that it exported in nominal terms.

11 COMMENTS

Monica March 31, 2017 At 8:31 am

It’s the Financial sector turn to realign cost of funds
- Her Bra Cut Her Bra March 31, 2017 At 11:23 am
  
  What’s the meaning of “The annual inflation rate for March 2017 inflation rate has marginally decreased by 0.1 percentage points to 6.7 percent from the February rate of 6.8 percent.”?
st March 31, 2017 At 8:36 am

prices are going up everyday, can anyone educate me on this news that inflation drops? lies is our new butter we have.

lies is the truth of the day!
Spaka like lilo March 31, 2017 At 8:47 am

Hehe.hehehe
Even the resident kaponya bloggers on LT are feeling embarrassed to dance about this news.

Zambia is the only country that announces a drop in the rate of inflation while there is a marked drop in the standard of living…
NEZ (new educated Zambia UPND ) BEST BLOGGER 2016. March 31, 2017 At 8:55 am

So we Zambians are supposed to eat the marginal drop of numbers? So they want us to jump up and down excitement over such irrelevant and trivial information which won’t change the lives of poor Zambians. Pf are jokers.
Caleb March 31, 2017 At 9:17 am

Which of the two inflation dropped. The psychological PF one or the real economic one?
Mathematics and Statistics graduate March 31, 2017 At 10:49 am

Central Statistical Office should have a director who has done mathematics and statistics not Kalumbi who is just a demographer
- Her Bra Cut Her Bra March 31, 2017 At 11:29 am
  
  What do you mean by “just a demographer”? Don’t you just want to pull him down? Even Lungu is just a lawyer and HH is just a businessman and Collins Mbesuma is just a footballer.
Masalamuso March 31, 2017 At 10:51 am

How can trade deficit increase by 409% in two months and inflation reduces. Maybe SABS should look at ALL their fugures. What contributed to the deficit in trade. Gives us commodity by commodity.
Masalamuso March 31, 2017 At 10:56 am

March is not over yet we give inflation figures already. All indices wouldnt be in for march yet so maybe if announced later then inflation might not look so good.
Alibaba March 31, 2017 At 1:15 pm

This John kalumbi is a confused person. He does not understand whatever he is talking about. He said inflation has marginally decreased. Why talk about marginal figures which are insignificant and have no impact on anything? How can a country with an increasing trade deficit post a decrease in inflation? This is desperate PF F-ools.