Tuesday, May 28, 2024

Zambia’s Inflation rate increases to 8.8%

Share

Christmas Shopping in Lusaka
Shopping in Lusaka

Zambia’s rate of inflation for the month of July has increased to 8.8 percent from 8.6 percent recorded in June 2019.

Central Statistical Office acting Director of Census and Statistics Goodson Sinyenga attributed the increase in the rate of inflation to both food and non-food items, price movements.

Mr Sinyenga explained that the upward adjustment of inflation in July was triggered by the price increase in products such as breakfast meal, roller meal, maize grain, samp, bread, and imported rice.

He further noted that the increase in the non-food annual rate of inflation for July 2019 was mainly attributed to price changes in clothing items.

Meanwhile Mr Sinyenga has said that the year on rate of inflation on food in the month of July has increased by 0.1 percent.

Last month, the year on rate of inflation on food stood at 9.2 percent while this month, it stands at 9.3 percent.

Mr Sinyenga further attributed the increase in annual food inflation to price adjustments of food items such as breakfast meal, roller meal, maize grain, samp, bread, bun and imported rice.

And the annual non-food inflation rate for July 2019 has increased to 8.3 percent compared to 8.0 percent recorded in June last month. Indicating an increase of 0.3 percent.

In a related development the inflation rate for alcohol beverages and tobacco increased to 6.7 percent in July 2019 from 6.1 percent recorded in June 2019.

The increase is attributed to price changes in products such as vodka, gin and fortified wine.

And the clothing and footwear annual inflation rate increased to 6.4 percent in July from 6.0 recorded in June last month (2019).

Meanwhile the annual rate of inflation for transport increased to 21.5 percent in July 2019 compared to 21.4 recorded in June same year.

The increase was attributed to price changes in car battery, CV joints and shock absorbers.

In the same month of July, the annual rate of inflation for health increased to 7.1 from 6.9 percent recorded in June 2019.

The increase was attributed to price changes in pharmaceutical products such as cafenol, aspirin, paracetamol and magnesium trisilicate.

2 COMMENTS

Comments are closed.

Read more

Local News

Discover more from Lusaka Times-Zambia's Leading Online News Site - LusakaTimes.com

Subscribe now to keep reading and get access to the full archive.

Continue reading