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HomeBusinessAnnual inflation increases by 0.5% - Zamstats

Annual inflation increases by 0.5% – Zamstats

The annual inflation for the month of August 2023 has increased to 10.8 percent from 10. 3 percent last month.

Zambia Statistics Agency (ZAMSTATS) Statistician General, Mulenga Musepa says this means on average, prices of goods and services increased by 10.8 percent.

Speaking when he presented the monthly bulletin at a media briefing in Lusaka today, Mr Musepa says the development was mainly attributed to price movements of selected food and non-food items.

He said the annual food inflation for August 2023 was recorded at 12.6 percent compared to12.1 percent in the previous month.

“This outturn was mainly attributed to price movements in Cereals such as Breakfast & Roller meal, Maize grain, Cassava meal, Meats (Fillet steak, Rump steak, Brisket, Mixed cut, T-bone, Pork chops), Fish (i.e. Frozen Fish, Dried Bream-Medium sized, Fresh Kapenta, Dried Kapenta Siavonga, Dried Kapenta Chisense), Milk, Cheese and Eggs,” he said.

Meanwhile, the annual non-food inflation for August 2023 was recorded at 8.5 percent compared to 7.8 percent.

Mr Musepa attributed this to increase in prices of non-food items such as spare parts and accessories, fuels and lubricants, paraffin purchases and charcoal.

He further said Consumer Price Index (CPI) for the Food and Non-alcoholic beverages increased by 12.6 percent between August 2022 and August 2023.

“This was higher than 11.3 percent recorded in the same month of 2022 and 12.1 percent recorded in July 2023,” Mr Musepa said.

 

SourceZANIS
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