Zambia has recorded an increase in the rate of inflation to 10.7 percent in October 2019 from 10.5 percent recorded in September 2019.

Addressing the media in Lusaka this morning, Zambia Statistics Agency-ZSA- formerly Central Statistical Office, Interim Statistician General, Mulenga Musepa also announced that the year on year quarterly growth rates at constant 2010, prices shows that the economy grew by 2.2 percent in the second quarter of 2019 compared to 4.7 percent in the second quarter of 2018.

Mr. Musepa says the increase in the annual rate of inflation can mainly be attributed to food items price movements in products such as breakfast mealie-meal, roller meal, maize grain, rice and meat products.

He notes that on average prices of goods and services increased by 10.7 percent between October 2018 and October 2019.

Meanwhile, Mr. Musepa says the country has recorded a trade deficit of 61.7 percent from K451.9 million in August 2019 to 730.7 million in September 2019.
PHOENIX NEWS