Zambia’s inflation rate reduces
By MAIMBO MWEEMBA
Zambia Statistics Agency (ZAMSTATS) Interim Statistician General Mulenga Musepa says the country’s annual inflation rate for the month of May has reduced to 10.2% from 11.5 recorded last month.
Speaking at a press briefing, Mr Mulenga said the reduction means that on average, prices of goods and services increased by 10.2% between May 2021 and May 2022.
He attributed the drop in inflation to price movements in both food and non-food items such as Meat, Fruits, and Vegetables.
“Copperbelt province contributed the highest at 2.9% points to the overall annual inflation rate of 10.2%, Lusaka was second, contributing 2.4% points while North- Western and Western provinces had the lowest contributions of 0.4% and 0.5% points respectively,” he said.
Mr Musepa said the cumulative total trade for the period January to April 2022 was 1 K15.2bn while that of 2021 for the same period was K114.4bn representing a 0.7% increase.