With only one month to go this year, the November 2011 Zambian Inflation rate reduced again to 8.1 percent.
The reduction in the inflation rate from 8.7 percent in October 2011 to 8.1 percent in November 2011 was mainly due to a reduction in fuel prices introduced by new President Michael Sata.
Central Statistical Office (CSO) director, John Kalumbi said of the 8.1 percent inflation rate, food products accounted for 2.8 percent, which was an increase of 0.1 percent while non-food items contributed 5.3 percent.
According to the 2011 Zambian budget which was released by former Zambian finance minister Situmbeko Musokotwane on 8th October 2010, the end of year inflation rate for the year 2011 was targeted at 7 percent.
The inflation rate for the period January 2011 to November 2011 had been hovering around 8% to 9% and it appeared unlikely that the target was going to be met. In fact the inflation rate in November 2011 was the lowest so far recorded from January 2011 to November 2011.
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