inflation

Zambia’s year-on-year inflation as measured by the all items consumer price index increased by 0.1 percentage point in December from the previous month, its statistics agency said on Thursday.

The annual inflation rate increased to 7.9 percent in December from 7.8 percent in November, according to the Central Statistical Office (CSO).

“This means that on average, prices of goods and services increased by 7.9 percent between December 2017 and December 2018,” Goodson Sinyenga, acting director of the statistics agency told reporters during a monthly briefing.

The increase, he said, is mainly due to non-food items such as household furniture and furnishings and transport.

But the month-on-month inflation declined in December to 0.8 percent from 0.9 percent the previous month.

The annual inflation rate is line with the government’s projection in the 2018 budget where it targeted an annual inflation rate of between 6 to 8 percent. Enditem

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