The February 2016 Zambian inflation rate increased to 22.9 per cent from 21.8 per cent recorded in January 2016.
The rate of 22.9% means that on overage, prices increased by 22.9% between February 2015 and February 2016. The increase in inflation rate was attributed to both food and non-food items.
Some of the items contributing to the food inflation were as follows: imported rice, bananas, groundnuts and tomatoes as having impacted on food inflation, whereas the rise in price of water and sewer services was one among the items contributing to the rise in non-food inflation.
Central Statistical Office (CSO) Director Mr. John Kalumbi who reported the February 2016 Zambia inflation figures said it was likely that the annual inflation rate will continue until somewhere in October 2016.
Zambia recorded a trade deficit in January 2016 valued at K172.6 million. This means that the Country imported more in January 2016 than it exported in nominal terms.
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