The July 2016 Zambia annual inflation rate went down to 20.2 percent as compared to the June 2016 Zambia annual rate of inflation.
The Zambian Statistical Office in Lusaka attributed the downward reduction in the Zambian inflation rate to decreases in prices vegetables, fruits, purchase of motor vehicles and airfares.
This had been the fifth month in the downward spiral of the Zambian annual inflation rate starting from March 2016 when it was recorded at 22.2 percent. The inflation figures were as follows: 21.8% in April 2016, 21.3% in May 2016, and 21% in June 2016.
Of the total Zambia annual inflation rate recorded in July 2016, Food and Non-alcoholic beverage products accounted for 12.8 percentage points whereas non-food products accounted for 7.4 percentage points.
The breakdown of 7.4 percentage points for the above non-food products was as follows:
As usual Lusaka had the highest contribution at 5.4 percent. Other provinces recorded as follows:
The following is a movement of prices of some selected products for the period between June 2016 to July 2016.
In June 2016 Zambia recorded an increased trade deficit of K 1,905.9 million as compared to K 79.2 million recorded in May 2016. This means Zambia imported more in June 2016 than it exported in nominal terms.
The major export destinations in June 2016 were as follows:
These five countries collectively accounted for 78.8 percent of Zambia’s total export earnings in the month of June 2016.
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