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Inflation Goes Down

LUSAKA, May 27 - The Central Statistical Office (CSO) has announced a 17.4 per cent annual rate of inflation for the month of May, representing a 0.4 percentage point lower than the 17.8 percent recorded last month.

Director of census and statistics Buleti Nsemukila said however that between April and May the Consumer Price Index (CPI) went up by 0.7 per cent.

He said the 17.4 percent annual inflation for May was a composition of increases in food prices which accounted for nine percentage point while the non food items in the CPI accounted for 8.4 percentage points.

Dr Nsemukila said annual food inflation stood at 16.9 per cent, gaining 0.6 percentage points on the April rate of 16.3 per cent.

The CSO said generally, decreases occurred in the prices for maize meal, maize grain, fresh fish, dried Kapenta, fresh meat, eggs, sweet potatoes and fresh fruits among others.

Price increases on the other hand occurred in fresh vegetables, chicken oils and fats, milk and milk products, sugar and other processed food commodities.

Source: The Times of Zambia / allAfrica Global Media

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Inflation Goes Down

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