Zambia witnesses dwindle in annual rate of inflation to 7.8 pct in Feb

The annual rate of inflation in Zambia has marginally dwindled from 7.9 percent recorded in January 2019 to 7.8 percent in February.

According to Iven Sikanyiti, Central Statistical Office (CSO) Acting Director of Census and Statistics, the 7.8 percent inflation rate in food and non-alcoholic beverages accounted for 4.1 percentage points. Sikanyiti said that non-food items accounted for 3.7 percentage points, as reported by Lusaka Times.

He has disclosed during the CSO monthly bulletin briefing in Lusaka that of the 3.7 percentage points, transport contributed 1.2 percentage points, while housing, water, electricity and fuels accounted for 0.9 percentage points. He further told to the media that Zambia recorded a trade surplus of K938 million in January 2019 from a trade deficit of K543.9 million recorded in December 2018.