For the first time this year, the May 2015 Zambian inflation rate dropped to 6.90 per cent in May 2015 from 7.2 per cent reported in April 2015.
This announcement was made on 28 May 2015 in Lusaka by the CSO Director John Kalumbi.
The Central Statistics office said that the reduction was due to the decreases of prices of non-food items, mainly purchase of motor vehicles and airfares.
According to Mr Kalumbi, the 6.90 per cent annual inflation rate for May 2015 comprised of 3.7 per cent for food and non-alcoholic beverage products while 3.2 per cent was for non-food products.
The annual rate of inflation decreased for clothing and foot wear, alcoholic beverages and tobacco, housing, water and miscellaneous goods and services.
However, the annual rate of inflation increased for food, health, education and non-alcoholic beverages.
Mr. Kalumbi further noted that the annual rate of inflation in May 2015 increased for central, north western and southern provinces, but decreased for Copperbelt, Eastern, Luapula, Lusaka, Muchinga, Northern and North Western provinces.
North Western province recording the highest annual rate of inflation at 9.3%, while Copperbelt and western provinces recorded the lowest at 5.7% each.
Comparison of retail prices of some products between April 2015 and May 2015 moved as follows:
Meanwhile Mr. Kalumbi reported that the country recorded a trade deficit of K 717.2 million as compared to the trade deficit of K310.3 million recorded in March 2015.
This meant that the country imported more in April 2015 than it exported in nominal terms.
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