The October 2015 Zambian inflation rate hit 14.3 per cent. However, the annual rate of inflation for September 2015 was recorded at 7.7 per cent.
According to Central Statistical Office director of census and statistics, John Kalumbi, the annual rate of inflation was attributed to both food and non-food items.
Food and non-alcoholic beverages accounted for 8.3 per cent age points, while non-food products accounted for 6.0 per cent age points, amounting to a total of 14.3 per cent.
The annual food inflation rate for October 2015 increased to 16.2 per cent from 8.1 per cent in September 2015, whereas the annual non-food inflation rate was recorded at 12.4 per cent from 7.3 per cent in September 2015.
A breakdown by division of the annual inflation rate for the four highest categories was as follows:
1. Transport - 23.8 %
The increase was as a result of increases in the prices of motor vehicles, spare parts and accessories such as spark plugs, bicycle tube and tyre and barke fluid.
2. Recreation And Culture – 19.8%
This was attributed to increases in prices of items such as newspapers, colour television sets, personal computers and printers.
3. Furnishings, Household Equipment – 19.6%
These were caused by Chik bar soap, boom washing paste, candles, bed and mattress, wooden bed, wardrobe, dinning suit, bed sheets, blanket, foam mattress, two bar heater and silver plate.
4. Food And Non Alcoholic Beverages – 16.2%
Items in this group included increases in the prices of roller mealie meal, bread, buns, fritters, imported bread flour, beef ( brisket, t-bone, sausage), dressed chicken, frozen fish, dried Mpulungu kapenta, fresh milk, eggs, imported and locally produced cooking oil, lettuce, fresh maize cob, dried beans, sugar and table salt.
All Consumer Price Index (CPI) main groups recorded increases except Housing, Water, Electricity, Gas and other fuels and Communication which remained the same.
Between October 2014 to October 2015, annual inflation rates by province were recorded as follows:
As to the provincial contribution to the overall annual inflation of 14.3 per cent, Lusaka had the highest at 4.2 per cent. Copperbelt province had the second highest provincial contribution of 2.8 per cent. Western province had the lowest contribution of 0.5 percentage points to the overall inflation rate.
Between September 2015 and October 2015 the average prices of some selected products was as follows:
The country recorded a trade deficit of K 1,819.50 million in September 2015 from a trade deficit of K 725.3 million recorded in August 2015.
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