The annual rate of inflation has increased to 8.1 per cent for May, 2019, mainly triggered by price increases in dried fish and kapenta, Central Statistical Office (CSO) data shows.
Announcing Zambia’s annual rate of inflation for this month, CSO acting director of census and statistics Daniel Daka said that dried fish and kapenta price increases, among others, had been the main contributing factors in pushing up inflation to 8.1 per cent this month from 7.7 per cent recorded last month.
“The year-on-year inflation rate as measured by the all items Consumer Price Index (CPI) for May, 2019, increased to 8.1 per cent from 7.7 recorded in April, 2019. This means that on average, prices of goods and services increased by 8.1 per cent between May, 2018, and May, 2019,” Daka told journalists in Lusaka, Thursday.
“The increase in the annual rate of inflation was mainly attributed to upward price movements in food items, such as dried fish, dried kapenta (Mpulungu, Siavonga and Chisense), meats and vegetables.”
He explained that food and non-alcoholic beverages contributed a larger proportion of the annual rate of inflation for this month.
“Of the total 8.1 percent annual inflation rate recorded in May, 2019, food and non-alcoholic beverages accounted for 4.8 percentage points, while non-food items accounted for a total of 3.3 percentage points. Of the 3.3 percentage points, transport contributed the highest at 1.0 percentage point followed by housing, water, electricity, gas and other fuels that contributed 0.7; communication, restaurant and hotels accounted for the least at 0.0 percentage points each,” said Daka.