…for the month of October, with annual food inflation climbing to 13pc
By BUUMBA CHIMBULU
ZAMBIA’S annual inflation rate has increased to 12.6 percent in October due to price movements of selected food and non-food items.
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Zambia Statistical Agency (ZamStats) Statistician General, Mulenga Musepa said the annual inflation for October 2023, increased to 12.6 percent from 12.0 percent recorded in September 2023.
This means that on average, prices of goods and services increased by 12.6 percent between October 2022 and October 2023.
Mr Musepa told journalists in Lusaka yesterday that annual food inflation for October, 2023 was recorded at 13.6 percent compared to 13.4 percent the previous month.
He said this meant on average prices of food items increased by 13.6 percent between October 2022 and October 2023.
Mr Musepa said the outturn was mainly attributed to price movements in cereals (breakfast and roller meal, maize grain, rice, cassava meal, macaroni), meat and chicken.
He said annual non-food inflation for October was recorded at 11.3 percent compared to 10.1 percent the previous month.
This development was mainly attributed to increases in prices of non-food items such purchase of motor vehicles, fuel and transport fair.
He said that of the overall 12.6 percent annual inflation, food and non-alcoholic beverages group contributed 7.8 percentage points, while non-food items accounted for 4.8 percentage points.
“Of the 4.8 percentage points, transport contributed the highest at 2.0 percentage points followed by housing, water, electricity, gas and other fuels at 1.0 percentage points, clothing and footwear, furniture, household equipment and routine household maintenance at 0.6 and 0.5 percentage points, respectively,” Mr Musepa said.
He added that the rest of the non-food group accounted for the remaining 0.6 percentage points.
Mr Musepa indicated that Lusaka Province contributed the highest at 4.2 percentage points to the overall annual inflation of 12.0 percent in October 2023.
Copperbelt and Central provinces contributed 2.3 and 1.3 percentage points respectively.
He said Southern Province contributed 1.1 percentage, while North-Western Province had the lowest contribution of 0.4 percentage points.
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