THE annual rate of inflation for the month of October has decreased to 21.1 percent from 22.1 percent recorded in September 2021.
Speaking during a briefing, Zambia Statistics Agency (ZSA) interim statistician general Mulenga Musepa attributed the decrease in the inflation rate to price movements in both food and non-food items.
“The Annual inflation rate for October, 2021 decreased to 21.1 percent from 22.1 percent recorded in September 2021. This means that on average, prices of goods and services increased by 21.1 percent between October 2020 and October 2021. The decrease in the annual rate of inflation was mainly attributed to price movements in both food and non-food items,” Musepa said.
“The annual food inflation rate for October, 2021 was recorded at 28.1 percent compared to 29.6 percent recorded in September 2021, a decrease of 1.5 percentage points. This was mainly attributed to price movements of food items such as cereals (breakfast mealie meal, roller mealie meal, maize grain, rice imported, bread flour imported); meats (T-bone, Beef sausages, mince meat, Ox-liver, pork chops); eggs, cooking oil and onion.”
He said the annual non-food inflation rate for October 2021 was recorded at 13.2 percent from 13.6 percent in September 2021.
“The annual non-food inflation rate for October 2021 was recorded at 13.2 percent from 13.6 percent in September 2021. The decrease in inflation rate was mainly attributed to price movements of Major household appliances (Refrigerator, washing machine, Stove, microwave oven); small electric household appliance (Heater 2 bar, Electric iron, Electric Kettle, Hotplate (2 plate),” he said.
And Musepa said the country’s total trade for the period January to September 2021 increased by 65.1 percent compared to 2020.
“The cumulative total trade for the period January to September 2021 was K273.5 billion while that of 2020 for the same period was K165.7 billion, representing a 65.1 percent increase. The total value of exports via all modes of transport for the period January to September 2021 was K167.1 billion. Road transport accounted for K97.6 billion representing 58.4 percent, Rail transport was second at K16.9 billion (10.1 percent) and Air transport was third accounting for K3.0 billion (1.8 percent). Other modes of transport accounted for K49.6 billion (29.7 percent),” said Musepa.
“In terms of volume, the total volume of exports for the period January to September 2021 was 5.9 million metric tons, of which Road transport accounted for 4.0 million metric tons, representing 68.2 percent. Rail transport accounted for 107.3 thousand metric tons, representing 1.8 percent, Air transport accounted for 3.9 thousand metric tons (0.1 percent), while other modes accounted for 1.8 million metric tons (30 percent).”