By BUUMBA CHIMBULU
ZAMBIA’S annual inflation rate has continued to surge, with the December percentage hitting 13.1 percent, as a result of movements recorded in selected food items.
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Zambia Statistical Agency (ZamStats) Statistician General, Mulenga Musepa, indicated that the annual inflation for December 2023, increased to 13.1 percent from 12.9 percent recorded in November 2023.
Mr Musepa explained to journalists in Lusaka yesterday that this meant that on average, prices of goods and services increased by 13.1 percent between December 2022 and December, 2023.
“Annual food inflation for December, 2023 was recorded at 14.2 percent compared to 13.1 percent the previous month,” he said.
This, Mr Musepa explained, meant on average prices of food items increased by 14.2 percent between December 2022 and December 2023.
He noted that the outturn was mainly attributed to price movements in cereals (Samp, cassava meal, maize grain, bread, wheat, household flour and rice), fish, Kapenta, meat and chicken.
He said annual non-food inflation for December was recorded at 11.6 percent compared to 11.8 percent the previous month.
This development was mainly attributed to a base effect in transport division.
Mr Musepa pointed out that of the overall 13.1 percent annual inflation, the food and non-alcoholic beverage group contributed 8.2 percentage points, while non-food group accounted for 4.9 percentage points.
“Of the 4.9 percentage points, transport contributed the highest at 1.9 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 0.7 and 0.6 percentage points, respectively,” Mr Musepa said.
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