Zambia’s annual rate of Inflation for March 2018 has risen to 7.1% from the 6.1% recorded in the previous month.
Central Statistical Office (CSO) acting Director of Census and Statistics Goodson Sinyenga said that the increase in the annual rate of inflation is attributed to price movements in both food and non-food items.
Mr. Sinyenga said that the food inflation rate for March was recorded at 5.8 percent from 4. 6 percent in February which is attributed to price changes.
He has also explained that non-food inflation rate for March stood at 8.7 percent from 7.9 in February due to price movement for transport.
Mr. Sinyenga said this during a media briefing in Lusaka.
And The Central Statistical Office (CSO) has disclosed that Zambia recorded a trade surplus of K694.6 million in February 2018.
CSO Acting Director of Census and Statistics, Goodson Sinyenga however said in the month of January 2018, the country had recorded a trade deficit of K651.8 million.
Mr. Sinyenga told journalists today that the country exported more than it imported in nominal terms.
He said imports declined by 12.2 percent from K8, 841.2 million in January 2018 to K7, 765.1 million in February 2018 while exports increased by 3.3 percent from K8.189.3 million in January 2018 to K8, 459.7 million in February in 2018.
Mr. Sinyenga attributed the increase in trade surplus to the increase in metal exports by 2.3 percent and a decrease in the imports of consumer and capital goods by 22.7 percent and 22.3 percent respectively.
MmD governnent spokesperson Dora was mocking PF government is on track… Just yesterday.
Figures only tells the truth when they show a negative trend in economics and maroons believes them. However when figures shows a positive outlook then they’re manipulated. Lets read what the buffoons have to say…….123..
Very good observation lets see who has been waiting for negative news…just watch the comment section..its by the fruits of their trees that we shall know them
Zambia being RSA’s second largest trading partner on the importing side is feeling the effects of a strong Rand. Imports have become more expensive and it’s only normal for inflation to respond that way. Goods have basically gone up in Shoprite, Hardwares, Pharmacies as 80% of all these goods are South African. Even beer has gone up.
The spiral effects of a fuel price hike. This is the reality that ERB or is it government neglects to see. And by the way what was the main reason of the increase in fuel prices? Kwacha-dollar rate has been somewhat stable for some time, there was no movement on the global oil prices, so really what necessitated the increase in the pump prices??
Lets do better guys! Stop the HH rot!