Zambia’s inflation rate falls slightly in August

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Inflation
Inflation

Zambia’s annual inflation rate fell slightly to 24.4 percent in August, down from 24.6 percent recorded in July, according to data released by the country’s statistics agency on Thursday.

The decrease in the inflation rate was mainly attributed to price movements in non-food items, according to the Zambia Statistics Agency.

According to figures, the annual non-food inflation rate for August was recorded at 16.3 percent from 17.0 percent the previous month.

In a statement, the statistics agency said the decrease in the annual non-food inflation was driven by price decreases in purchases of motor vehicles.

On the other hand, the annual food inflation rate for August was recorded at 31.6 percent compared to 31.2 percent recorded in July mainly due to increases in prices of food items like meats, chicken and fruits. Enditem

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