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HomeBusinessAnnual inflation shoots up to 13.7%

Annual inflation shoots up to 13.7%

By Derrick Silimina

The annual inflation for March 2024 has increased to 13.7 percent from 13.5 percent recorded in February, 2024.

In a statement, the Zambia Statistics Agency (ZamStats) said this means that on average, prices of goods and services increased by 13.7 percent between March 2023 and March 2024, the development mainly attributed to price movements of selected food items.

ZamStats Statistician General Mulenga Musepa further noted that annual food inflation for March 2024 was recorded at 15.6 percent compared to 14.1 percent in the previous month.

“This means on average, prices of food items increased by 15.6 percent between March 2023 and March 2024. This out-turn was mainly attributed to increases in prices of Bread and Cereals (Breakfast & Roller Mealie Meal, Maize grain, Samp, Rice, Bread, Bun, Fritters); Meats (Brisket, Mixed cut, pork Chops, Goat meat, Chicken frozen) Cooking oil and Sugar,” Musepa said.

With the annual non-food inflation for March 2024 recorded at 11.2 percent compared to 12.7 percent in the previous month, the Statistician General said this out-turn was mainly attributed to price movements of Motor Vehicles (Toyota Hilux, Toyota corolla, Nissan ALMERA 1.5 L Acenta MT, Nissan Pick (Nissan Hardbody), Fuels (Diesel, Petrol) and Transport fare (Air, Road).

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