The annual inflation rate for September 2017 has marginally increased to 6.6% from 6.3% recorded in August.
Speaking during the monthly briefing, Central Statistical Office (CSO) Director John Kalumbi says
The increase in the annual inflation rate was mainly attributed to price increase in electricity tariffs.
And Mr. Kalumbi says the annual food inflation rate for September was recorded at 5.0% compared to 5.1% recorded in August 2017, representing a marginal decrease of 0.1 percent.
He says the decrease in the annual food inflation rate is mainly attributed to price changes for bread and cereals and vegetables.
Mr Kalumbi adds that the annual non food inflation rate for September 2017 was recorded at 8.4 percent, from 7.7 percent recorded in August 2017,indicating an increase of 0.7 percentage points.
He says the increase is mainly attributed to the increase in electricity tariffs.
Meanwhile Mr. Kalumbi says Zambia has recorded an economic growth of 3.2 percent in the first quarter of 2017, indicating a 0.2 Percentage points increase from 3.0 percent recorded in the first quarter of 2016.
He says the electricity generation industry recorded the highest growth of 27.1 percent in the period under review.
And Mr. Kalumbi has disclosed that youth unemployment rate in the first quarter of 2017 is estimated at 16.3 percent.
He explains that in urban areas, the youth unemployment rate stood at 17 percent and 15.5 percent in rural areas.
CAN WE TRUST YOU……?????
6.6% is a great nmber. Work harder.
We hadvan econic growth of 3.2% yet Mr Mutati saidcwe would be running at 4%. N wonder there is a unity march.
His fugures never come to eventuate.
Why are we getting figures for first quarter, what were figures previously published then, we are in 4th quarter so lets see figures for 1st, 2nd and 3rd quarters….
Lungu and his PF government do not mean well for our country Zambia. These guys have constantly abused our national resources by stealing from our national treasury. How can we experience high inflation rate amidst bumper harvest? Something big is wrong somewhere. And that is Lungu’s poor governance.