inflation

Zambia’s year-on-year inflation increased in January, signaling an upward movement in the inflation since last year, its statistics agency said on Thursday.

The annual inflation rate, the Consumer Price Index (CPI), increased to 12.5 percent from 11.7 percent last month.

“This means that on average, prices of goods and services increased by 12.5 percent between January 2019 and January 2020,” Mulenga Musepa, Interim Statistician-General told journalists.

He attributed the increase in the annual rate of inflation to price increase in both food and non-food items.

The country, he said, still has inflationary pressures that have been worsened by the increase in fuel pump prices and an increase in electricity tariffs.

The government has projected that inflation will be maintained within the range of six to eight percent. Enditem

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