The annual rate of inflation for the month of August 2018 has increased by 0.3 percent from the 7.8 percent recorded in July this year, to 8.1 percent.
This means that on average, prices of goods and services increased by 8.1 percent between August 2017 and August 2018.
Central Statistical Office (CSO) Acting Director Goodson Sinyenga said the increase in inflation was mainly influenced by a rise in prices of both food and non-food items.
Speaking during the monthly bulletin media briefing Mr. Sinyenga listed breakfast mealie meal, Cassava meal, purchase of vehicles and Charcoal as some of the food and non-food items .
Mr. Sinyenga said the annual non food inflation rate for August 2018 was recorded at 8.3% compared to 8.1% recorded in July 2018 which is an increase of 0.2 percentage points.
He says the increase in the annual food inflation Rate is mainly as a result of price changes of breakfast mealie meal and Cassava Meal.
Meanwhile Mr. Sinyenga has revealed that Zambia’s trade deficit decreased by 48.8% from K1, 620 Million Kwacha recorded in June 2018 to K829 Million in July 2018.
He says this trade deficit means that the country imported more that it exported in nominal terms.
Mr. Sinyenga said imports decreased by 12.9 percent from 10, 190. 3 Million Kwacha in June 2018 to 8, 877.4 Million Kwacha in July 2018.
[QFM]
Kikikiki PF inflation going up up up like their their fists or erections.
You only believe in figures when inflation increases but sjould it drop it will fake story. This is why we call you under5s.
If inflation at 8% people are suffering how will it be like when the inflation rises to 10%. during HIPC what were the numbers? It is important so that we compare and rate the PF governance.
Like Pilato said the more poor they are …the easier it is to bribe them that Lazy Lungu will go around and proudly state that the Councillor from busy foools in UPND are defecting because of PF policies..
You under5s should not comment on this because you didnt believe in the figures when inflation was decreasing and why should you celebrate when it goes up. If you believed then it would’ve made sense now to condemn.
“This means that on average, prices of goods and services increased by 8.1 percent between August 2017 and August 2018.”
That is assuming inflation was at 0% in July 2017, which we know as an impossibility in Zambia.
Mwana Mulume, please go back to school…
Now.. I want to hear the kambili, gbm, Nevers, saviour Chishima..etc to discuss their plans to bring down inflation like the rupiah bands and levy mwanawasas did it. Remember PF , sata where not happy with low inflation