19.2 C
Lusaka
Saturday, April 13, 2024
spot_img
HomeBusinessAnnual inflation hits 13.5%

Annual inflation hits 13.5%

By Derrick Silimina

The annual rate of inflation for February 2024 has increased to 13.5 percent from 13.2 percent recorded in January, 2024.

In a statement, the Zambia Statistics Agency (ZamStats) said this means that on average, prices of goods and services increased by 13.5 percent between February 2023 and February 2024, the development mainly attributed to price movements of selected food and non-food items

ZamStats Statistician General Mulenga Musepa further noted that annual food inflation for February 2024 was recorded at 14.1 percent compared to 13.7 percent in the previous month.

“This means on average, prices of food items increased by 14.1 percent between February 2023 and February 2024.

“This outturn was mainly attributed to increases in prices of Bread and Cereals, Breakfast and Roller Mealie Meal, Samp, Rice, Bread, Bun, Fritters, Wheat Plain Household Flour, Vegetables including Rape, Pumpkin Leaves, Sweet Potato Leaves, Cabbage, and Tomatoes, among other food Products, “ Musepa said.

Meanwhile, the Statistician General stressed that the annual non-food inflation for February 2024 was recorded at 12.7 percent compared to 12.4 percent in the previous month, the outturn mainly attributed to increases in prices of Fuels and Lubricants (Diesel, Petrol, Engine Oil, Brake fluid, Maintenance and repair of personal transport equipment (General service, Wheel balancing, Car washing, Mini Bus fare, Bus and Taxi fares.

RELATED ARTICLES

Most Popular