Inflation marginally drops to 7.8%

The annual rate of inflation reduced to 7.8 per cent for February, 2019, with food and non-alcoholic beverages accounting for 4.1 per cent, according to Central Statistical Office (CSO) data.

Announcing Zambia’s annual rate of inflation for the month of February, CSO acting director of census and statistics Iven Sikanyiti said food items and non-alcoholic beverages accounted for 4.1 per cent, while non-food items accounted for 3.7 per cent.

Sikanyiti noted that transportation contributed the highest non-food item on a year-on-year comparison between February, 2018, and February, 2019 of 1.2 percentage points followed by housing, water and electricity, among others.

“The year-on-year inflation rate as measured by the all items Consumer Price Index (CPI) for February, 2019, decreased to 7.8 per cent from 7.9 per cent in January, 2019. This means that on average, prices of goods and services increased by 7.8 per cent between February, 2018, and February, 2019,” Sikanyiti told journalists in Lusaka, Thursday.

“Of the total 7.8 per cent annual inflation rate recorded in February, 2019, food and non-alcoholic beverages accounted for 4.1 percentage points, while non-food items accounted for a total of 3.7 percentage points. Of the 3.7 percentage points, transport contributed the highest at 1.2 percentage point followed by housing, water, electricity, gas and other fuels that contributed 0.9. Health; communication and; restaurant and hotels accounted for the least at 0.0 percentage points each.”

Stuart Lisulo

About Stuart Lisulo

Stuart Lisulo is an experienced journalist with a focus on business news.

Email: stuart [at] diggers [dot] news

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