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Alba Iulia
Thursday, May 26, 2022

Zambia’s Annual inflation rate continues to trend downwards

Economy Zambia's Annual inflation rate continues to trend downwards

The annual inflation rate of the month of January 2022 has slowed to 15.1 percent from 16.4 percent recorded in December 2021.

The decrease of 1.3 percentage points which has been recorded in this month means that on average the prices of goods and services increased by 15.1 percent between January 2021 and January 2022.

ZAMSTATS Interim Statistician General Mulenga Musepa has attributed the slowdown in annual inflation to favourable price movements in food items.

Mr. Musepa has disclosed that Lusaka contributed the highest at 4.6 percentage points to the overall inflation rate of 15.1, following by copperbelt contributing 3.7 percentage points while northwestern and western provinces had the lowest contributions of 0.4 and 0.3 percentage points respectively.

And Mr. Musepa says the monthly food inflation rate for January 2022 was recorded at 3.1 percent, an increase of 2.4 percentage points from 0.7 percent in December 2021.

He has attributed the outturn to an increase in food inflation of items such as cereals, meats, fish, vegetables, dried beans, sugar and cooking oil.

Meanwhile, Zambia recorded a trade surplus of k6.6 billion in December 2021 compared to a surplus of k7.2 billion in November 2021, representing a 7.6 percent decrease.

Mr. Musepa has also announced that the cumulative total trade for the period January to December 2021 was k359.4 billion while that of 2020 for the same period was k242.3 billion representing a 48.3 percent increase.

8 COMMENTS

  1. The bally effect…………..

    The redistribution of wealth from PF, the clique and their thugs to the wider citizens of zambia is showing early signs of flowering………

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  2. Has the definition of inflation changed? Salaries and prices have gone up, productivity has gone down. This means more money chasing few goods. How can this translate to lower inflation? Even the Kwacha – Dollar exchange rate has gone up. It is now around K18 to 1 US$. I have difficulties understanding this!

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