inflation

Zambia’s annual inflation rate continued on an upward trajectory rising by 0.7 percentage points in February, its statistics agency said on Thursday.

The inflation rate, as measured by the Consumer Price Index (CPI), increased to 22.2 percent in February from 21.5 percent recorded in January, according to figures released by the Zambia Statistics Agency.

“This means that on average prices of goods and services increased by 22.2 percent between February 2020 and February 2021,” Mulenga Musepa, the agency’s interim statistician-general said in a release.

He attributed the increase to a rise in food items with the annual food inflation recorded at 27.3 percent in February 2021 compared to 25.6 percent in January 2021.

However, the month-on-month inflation declined to 2.5 percent in February from 3.7 percent in January, mainly attributed to a decrease in the inflation of food items like cereals, fish, and meats. Enditem

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