The December 2015 Zambian inflation rate of 21.1 per cent missed target by 14.1 per cent. The inflation target of 7.0 per cent for 2015 was announced by Minister of finance Mr Alexander B Chikwanda on 10th October 2014 during his 2015 Zambian Budget Speech.
The last three months of the year 2015, has seen Zambia’s annual inflation rates in double digits as follows:
The rise in the annual inflation rate was attributed to both food and non-food items.
The annual food inflation rate for December 2015 was recorded at 24.8 per cent from 23.4 per cent recorded in November 2015.
The annual non-food inflation rate for December 2015 was 17.1 per cent as compared to 15.5 per cent recorded in November 2015.
Of the total 21.1 per cent annual inflation recorded in December 2015 food and non-alcoholic beverages accounted for 12.8 per cent age points while non-food products accounted for 8.3 per cent age points.
The three highest provincial contributors to the overall inflation of 21.1 % were as follows:
Zambia recorded a trade deficit in November 2015 valued at K 1226.1 million compared to the trade deficit recorded in October of K 2585.3 million. This means that the country imported more in November 2015 than it exported in nominal terms.
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