THE annual inflation rate for January 2022 has dropped to 15.1 percent from 16.4 percent recorded in December last year.

Speaking during a media briefing, Thursday, Zambia Statistics Agency interim statistician general Mulenga Musepa said the slowdown in annual inflation was mainly attributed to favourable price movements in food items.

“Annual inflation for January, 2022 decreased to 15.1 percent from 16.4 percent recorded in December 2021. This means that on average, prices of goods and services increased by 15.1 percent between January 2021 and January 2022. The slowdown in annual inflation was mainly attributed to favourable price movements in food items. Annual food inflation for January, 2022 was recorded at 16.9 percent compared to 19.9 percent recorded in December 2021, a decrease of 3.0 percentage points. This development was mainly attributed to price movements in food items such as meat (fillet and rump steak, brisket, mixed cut, t-bone, beef sausage); fish (frozen fish, dried kapenta, dried bream); fruits (lemons, pawpaw, mangoes) and; vegetables (rape, cabbage, pumpkin leaves, tomatoes, mushrooms, dried beans, sweet potatoes),” he said.

“The annual non-food inflation for January 2022 was recorded at 12.7 percent from 12.1 percent in December 2021. The increase in inflation was mainly attributed to price movements of non-food items such as fuels and lubricants (diesel, petrol); passenger transport by road (mini bus fare, coach fare, taxi fare), general car service, repair charges and car license (road tax).”

He said the annual inflation by province shows that the annual inflation rate for January, 2022 decreased for all the provinces.

“A disaggregation of the annual inflation by province shows that the annual inflation rate for January, 2022 decreased for all the provinces Central (11.3 percent from 14.1 percent), Copperbelt (18.1 percent from 18.2 percent), Eastern (13.6 percent from 16.4% percent), Luapula (17.2 percent from 17.6 percent), Lusaka (15.8 percent from 16.0 percent), Northern (20.0 percent from 22.5 percent), North-western (12.3 percent from 16.4 percent), Southern (12.3 percent from 13.8 percent) and Western (7.2 percent from 10.6 percent),” Musepa said.

“Lusaka Province contributed the highest at 4.6 percentage points to the overall annual inflation rate of 15.1 percent in January, 2022. Copperbelt Province was second , contributing 3.7 percentage points while North-Western and Western Provinces had the lowest contributions of 0.4 and 0.3 percentage points, respectively.”

Musepa said the cumulative total trade for the period January to December 2021 was K359.4 billion while that of 2020 for the same period was K242.3 billion, representing a 48.3 percent increase.

“The cumulative total trade for the period January to December 2021 was K359.4 billion while that of 2020 for the same period was K242.3 billion, representing a 48.3 percent increase. The total value of exports via all modes of transport for the period January to December 2021 was K219.7 billion. Road transport accounted for K122.4 billion representing 55.7 percent, Rail transport was second at K18.3 billion (8.3 percent) and Air transport was third accounting for K4.1 billion (1.9 percent). Other modes of transport accounted for K75.0 billion (34.1 percent),” Musepa said.

“In terms of volume, the total volume of exports for the period January to December 2021 was 7.7 million mt, of which road transport accounted for 5.4 million mt, representing 70.4 percent. Rail transport accounted for 119.0 thousand mt, representing 1.5 percent, Air transport accounted for 4.9 thousand mt (0.1 percent), while other modes accounted for 2.2 million mt (28.0 percent).”

He said the total value of imports via all modes of transport for the period January to December 2021 was K139.7 billion.

“The total value of Imports via all modes of transport for the period January to December 2021 was K139.7 billion. Road transport was the highest at K75.2 billion representing 53.8 percent share, followed by air transport at K11.9 billion (8.5 percent). Rail transport was third at K1.5 billion accounting for 1.1 percent of the total import bill. Other modes of transport accounted for K51.1 billion (36.6 percent),” said Musepa.

“In terms of volumes, a total of 5.1 million mt of imports was recorded for the period January to December 2021, of which road transport accounted for 2.9 million mt, representing the highest share at 56.0 percent, followed by rail transport which accounted for 196.6 thousand mt, representing a share of 3.8 percent. Air Transport was third accounting for 11.0 thousand mt (0.2 percent), while other modes accounted for 2.1 million mt (40.0 percent).”