INFLATION UP 9.9pc IN SEPTEMBER

ZAMBIA’S annual inflation rate has accelerated to 9.9 percent in September this year due to the base effect in food items, as it records a trade surplus of K3.2 billion.

The annual inflation for September 2022 has increased to 9.9 percent from 9.8 percent recorded in August 2022, Zambia Statistical Agency (ZamStats) interim statistician General Mulenga Musepa said.

This means that on average, prices of goods and services increased by 9.9 percent between September 2021 and September 2022

Addressing journalists in Lusaka yesterday, Mr Musepa indicated that annual food inflation increased to 12.1 percent from 11.3 percent in August this year.

He indicated that this development was mainly attributed to price movements in food items such as cereals, mealie meal, fish and vegetables.

Mr Musepa said annual non-food inflation for September 2022 was recorded at 7.2 percent from 7.8 percent 2022.

This outturn was mainly attributed to decreases in prices of non-food items such as fuels and lubricants, purchase of motor vehicles and air fares.

He indicated that of the overall 9.9 percent annual inflation, food and non-alcoholic beverages group contributed 6.8 percentage points, while non-food items accounted for 3.1 percentage points.

Of the 3.1 percentage points, clothing and footwear, housing, water, electricity, gas and other fuel and transport contributed the highest at 0.7 percentage points each.

“Furnishing household equipment and routine household maintenance groups contributed 0.4 percentage points. The rest of the non-food group accounted for the remaining 0.6 percentage points,” Mr Musepa said.

He said Lusaka Province contributed the highest at 2.9 percentage points to the overall annual inflation of 9.9 percent in September 2022.

Copperbelt Province was second, contributing 2.4 percentage points while Eastern, Luapula and Western provinces contributed 0.5 percentage points each.

North-Western Provincs had the lowest contributions of 0.4 points respectively.

On trade, Mr Musepa indicated that the cumulative total trade for the period January to August 2022 was recorded at K232. 0 billion while that of 2021 for the same period was K246. 1billion, representing a 5.7 percent decrease.

“The total value of exports via all modes of transport for the period January to August 2022 was K133.2 billion. Road transport accounted for the highest at K66. 9 billion representing 50.1 percent.

Rail transport was second at K2. 2 billion and Air transport was third accounting for K1.7 billion. Other modes of transport accounted for K62. 7billion,”he said.

Mr Musepa said total value of imports via all modes of transport for the period January to August 2022 was K98. 5 billion.