Inflation rises to 7.1%

Filed under: Breaking News,Business |

The annual inflation rate for March has increased to 7.1 percent from 6.1 percent recorded in February. Central Statistical Office -CSO- acting Director of Census and Statistics Goodson Sinyenga says the increase in the annual rate of inflation is attributed to price movements in both food and non-food items.

Mr. Sinyenga says 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. The acting Director says the country has recorded a Trade surplus of over 690 million Kwacha. Mr. Sinyenga explained that the country exported more than it imported and is as a result of an increase in the export of metals by 2.3 percent and a decrease in imports of consumer and capital good by 22.7 percent and 22.3 percent.
He has also stated that country’s economy grew by 5.0 percent in the fourth quarter of 2017 compared to 3.8 percent recorded in the fourth quarter of 2016 – ZNBC.


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