The June 2008 Inflation Was 12.1 percent

The June 2008 inflation rate increased to12.1 percent from the May 2008 figure of 10.9 percent.

Zambia’s inflation had once again accelerated upwards due to increases in food costs, Central Statistics Office Acting Director Efreda Chulu told reporters in Lusaka.

In the same period last year, the annual rate of inflation declined by 1.0 percentage points, from 11.1 percent in June 2007 to 12.1 percent in June 2008.

According to the latest Central Statistical Office (CSO) monthly bulletin announced by the director of census and statistics, Efreda Chulu, the increase of 1.2 of a percentage points in the annual inflation rate was attributed to the increase in the cost of food, with sugar prices accounting for 1.0 percentage points out of the total increase of 1.2 percentage points.

The director of census and statistics further said that there was an increase in the inflation rate for food items and a reduction in Inflation on non-food items.

The annual food inflation rate was recorded at 15.6 percent in June 2008, compared to 11.7 percent in May 2008. The annual non-food inflation rate was recorded at 8.8 percent in June 2008, compared to 10.1 percent in May 2008.

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